Why 40% of People living in London have left permanently? The rising cost of living, decreasing quality of life, and development of distant employment are the primary culprits. How these influences are changing London's demographics?
Hey guys, so what's the deal with people moving out of London? You know, lots of stats coming out now about how people can't afford to live in London people moving out 40% of people are moving out of London. The reality is 28% used to move out. Now there's 40 percents of swaps and up, which is probably about right. And I think the reason that is, is because rents have been driven up so high because of stupid policies by the government, and just the whole approach to the whole, you know, haphazard, you know, 13 or 16 different housing ministers, like just an absolute, you know, it's just ridiculous what's been going on. But the bottom line is, on a lot of places in London, what we find is the rents have gone up so much, that now you know, you might be a he might have been on 1200 50, or 1400.
Now, your rent is 12 or 2000. You know, which is an incredible jump. And but the reality is, that is where the market is. Now, if you're living there, and your rent goes up by that much can you keep, can you keep affording along with the cost of living crisis along with all this? Probably not. So you're having to make a decision to move out to where to meet Normally, you'd say ripple effect, your move out, you know, the next tube station are the next area. And that's what's happening, unfortunately, as people are having to be moved out, and because they've been pushed out, you know, Now, normally, you know, the rent creeps up year after year after year. So it's gradual, what's happened now is it's gone a massive jump.
Now, unfortunately, as you know, just having a chat with one of our landlords, he said, Look, you know, my mortgages have gone up four or 500, by rents have only gone up to 50. So he's out of pocket 250, plus, his insurance has quadrupled, you know, that he's paying on the property, because, you know, for the service charges, net, so all of a sudden, now he's sitting here going, I need to sell this one because I can't afford it. Yeah. And that is the pain that landlords are going through. But also it's the pain that tenants going through. And unfortunately, the government and the powers that be have got, you know, landlords and tenants fighting each other, as opposed to pointing the finger where it should be, which is the incompetent leadership of the Tory government. And unfortunately, labour is not going to do any better. You know, so what do we do now? I mean, we need a third alternative. In fact, what we really need is to get democracy back into third, fourth, fifth, sixth choice, real choice back because we haven't been given that it's been taken away from us.
Anyway, let's not get into the politics. But bottom line is, that is why people moving out of London is because rents have gone up so much. They don't have a choice. They can't afford to live here anymore. If they're on a fixed income, with the cost of living crisis, and with all this sort of stuff. There's nothing wrong with London per se. It's the fact that the demographics and the the wage side of things has changed. Okay. Alright guys, any questions in the comment? Hopefully, that'll be quite topical. And we're getting fewer people who aren't very happy about my comments, but why not? It's a truth. Let's see you guys. Bye.