You are reading a single comment by @midlife and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
midlife
Of all properties.
It’s in the 2021 census.
Eg in Hackney 28% are owner occupiers (16% mortgaged 12% owned outright), 31% private rented, 41% social rented.
For England it’s 63%/19%/17%, so London is nowhere near representative of the national picture.
Overall there are 6.8 million people with a mortgage on the house they live in and they’ll all see significant rises either now or when their fixed rate ends.
Average energy bills went up £150 a month and the government stepped in so we didn’t riot. The average mortgage is £137k, so if we say we’re going to see average rates go from 2.5% to 6% that’s a £400 a month rise on average.
Rents will go up too.