GMB release figures revealing 50.8 per cent of monthly income goes on rent in Barnet, council pledges to build affordable housing

In a report on Monday (October 24), GMB revealed the average cost of renting a home in 16 London boroughs is at least half of the average monthly income.

A Barnet residents’ average monthly income for 2015 was £2,757 – the most recently available number – while average Barnet rent for a two-bedroom home in 2016 is £1,400 per month, meaning 50.8 per cent of income would be spent on rent.

This is a 9.2 per cent increase from 2011, when rent was £1,127 per month against monthly earnings of £2,708.

In London as a whole, workers are paying out over 54% of their earnings on rent, up from 45% in 2011, which is significantly higher than the England average figure of 26%.

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GMB has now called for immediate action to generate more affordable housing for those on average or lower-than-average incomes.

London regional secretary Warren Kenny said, "These figures demonstrate the extent of the squeeze felt by workers and their families in London since the financial crisis in 2008.

“Rents have surged upwards as pay has been stagnant or falling.

“This shows a massive programme to build more homes, especially homes for rent, by the London boroughs is absolutely essential in all parts of the region and has to get underway without delay.

“We have been talking about this problem for far too long, there can be no excuses for not providing housing to people so they can afford to live there on average wages.”

In Barnet, the council has pledged to build 27,000 new homes in the borough by 2030, of which 8,300 will qualify as ‘affordable’.

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Barnet Homes has just marked the completion of 40 new homes in Mill Hill by giving the latest tenants keys to move into newly finished council properties.

Some of the families had previously been living in temporary accommodation.

Chair of the housing committee Cllr Tom Davey said: “We are aware, in common with the rest of London, housing costs have been increasing faster than incomes, meaning it has become increasingly difficult for people to find affordable housing in the borough.

“We have started a programme of building new homes on our own land and have so far identified the potential to deliver approximately 700 new homes.

“Between 2010 and 2015, 5,392 new homes were built in Barnet, of which 38 per cent were affordable.

“We have also recently embarked on a programme of acquiring properties on the open market to increase the options available for residents at risk of homelessness.”

Barnet Homes are due to begin building 320 more homes for affordable rent next year, and plans are also underway to provide approximately 300 mixed tenure homes on council land.