Dream moves to London ‘out of reach for poorest’

Parents forced to divert money for food

THE “DICK Whittington” dream of moving to London to seek a fortune is becoming increasingly unobtainable for those from poorer background, according to research, with costs keeping young people out of the capital.

Research by education charity the Sutton Trust found that despite the growth of the middle classes, two-thirds of the most socially mobile people had never moved far from their home towns.

It found those from working class backgrounds who had carved out well-paid careers had done so close to home, often in sectors like law, medicine and academia.

Moving to London to chase the highest paying jobs was increasingly only available to those from a privileged background, the researchers said. The report was based on analysis of data from the Office for National Longitudinal Study to build up a picture of the social mobility of people born in the 1970s.

Sir Peter Lampl, founder and chairman of the Sutton Trust, and who was raised in Barnsley, said: “London is essentially offlimits to ambitious people from poorer backgrounds who grow up outside the capital.”

TENANTS IN some of Yorkshire’s major cities have witnessed among the highest rises in rent in the country as parents are being forced to take money from their food budgets to meet increases in monthly costs.

Rents in York and Leeds have soared higher than the majority of other locations in the UK including London, according to research published today by the property site, Zoopla.

York was named third and Leeds was in fourth spot on a list of major towns and cities where rent saw the biggest increase over the past year, lying only behind Nottingham and Bristol.

Rents across the nation rose nearly twice as fast as the year before, with the average monthly rent up by 2.6 per cent to £886 in 2019. But while rent in York and Leeds still remains below the average, the two cities last year saw a five per cent and 4.4 per cent increase in rents respectively.

Rents in York are now on average £844 a month, while in Leeds the cost has risen to £715.

Nikki Marshall, a single mother-of-two who lives in Leeds, revealed that the rent on her home in the Whitkirk area has recently increased by £50 a month.

Miss Marshall has had to take money from the weekly food budget for her and her sons to meet the costs.

She said: “Once you’re in a property there’s nothing you can do if they increase the rent – you can move into another private let but you need the bond and deposit again so you’re backed into a corner to just pay the increase.

“I’ve been trying to get on the council list for two years, but I’ve been told it could take another four years to get there.

“As I have a home already, I’m not a council priority.”

The rise in costs also means

young professionals are being priced out of city centres, and even major cities, according to another renter, Abigail Beall.

The 27-year-old freelance journalist recently moved from a flat near Leeds Dock, where the landlord put rent up by £75 a month. Miss Beall and her partner were paying £675 a month for a onebedroomed flat and parking space, without bills.

Rent on the property rose by more than 11 per cent to £750 last year, shortly after the couple decided to move out as they managed to buy a house elsewhere.

Miss Beall said: “It was already

As I have a home already, I’m not a council priority.

Mother-of-two Nikki Marshall, who is trying to leave the private rental sector.

the cheapest flat I could find – all other places I’d looked at before were more expensive.

“We had to find someone to take over the final three months of the tenancy but, as the landlord put the rent up, no-one was prepared to pay that much.

“I think rising rents are probably driving people out of the city centres.

“I know loads of people in my friendship group moving away – you just get way more for your money when you’re further out.”

However, fewer people are able to get on the housing ladder, which, along with economic growth and rising living costs, has been touted as a reason for rises in rents as more and more people are relying on rentals.

Dwindling availability of property due to landlords being hit by tax changes has also been cited for reasons why rent is going up.

Despite this, James Wilkin said many landlords like himself were able to make a profit from rising rents.

He added: “This year, even accounting for the usual upgrades and maintenance costs associated with being a responsible landlord, I have seen an increase in the net yield of my portfolio.

“This is a pleasant change to previous years where despite maintaining the properties to a high standard I have been unable to increase the rents.”

The research and insight director at Zoopla, Richard Donell, admitted rents were expected to rise again in the next 12 months.

He said: “We expect rents to increase by 3.5 per cent over 2020 as a lack of supply supports faster growth.”

Mr Donell added: “New investment by landlords has fallen since the introduction of tax changes in 2016 and this has been felt most keenly in southern England where property values are highest and yields lowest.”