London is pricing young people out of adulthood
“There’s no point living in London if you’re broke. If you can only afford rent then you’re not really living.”
The cost of living crisis has infected every part of our day to day lives. The price of rent for a one-bedroom flat in London ranges between roughly £1,500-£2,000 a month. Average rents in London have climbed by 14.3% in the last year, these being the highest increases in the country.
The phrase “unprecedented times,” which has been used to describe the current state of affairs since the Covid-19 lockdowns began, means little to young people. These are some of those who are most affected, having moved to London for university or for the many job opportunities the city offers.
However, sky-high rents are forcing them to regress and move back in with their parents, as affordable flats often have unliveable conditions and salaries remain stagnant compared to the rate of inflation, which continues to run at above 10%.
Even after young people have seemingly done everything right, getting a degree and getting a job, it’s still not enough to survive. Theo, a 19-year-old university student living in London, told me: “I’m worried about rent prices as they are ramping up prices on flats that are not well maintained and it’s ripping people off.
“Finding a decent living space in London costs a lot of money. Hopefully I’ll get to stay in London, it really depends on the rent prices at that time and if I can reasonably afford it.”
Theo added: “Council tax massively contributes to this worry because it’s another couple hundred pounds on top of the rent. A graduate job wouldn’t pay enough for that, so you might as well commute in.”
University students do not need to pay council tax, so the prospect of having another bill ranging between £100-£300 a month is daunting. Megan, a 21-year-old university student, agrees. “In an ideal world I’d love to stay in London after I graduate, but with the cost of living crisis and extortionate rent prices it feels next to impossible. And that’s before even thinking about bills and council tax.”
Increasing numbers of recent graduates having to move back in with their parents after three years of freedom and independence, stunting their growth into adulthood.
They cannot access the job opportunities that come with living in London, and they cannot experience the independence that many yearn for in their 20s. In England and Wales, 51.2% of adults aged 20-24 live at home with their parents.
Theo told me: “I probably will have to live at home for a bit, luckily my family would let me do that and have time to get on my feet. If I could get a job straight out of uni then I would stay in London, but in reality that won’t happen.”
Not only is the cost of basic necessities extortionate, the loss of freedom for young people extends to their social lives. The average cost of a night out in London rose to £73.36 in October 2022, robbing people of leisure time and the ability to socialise.
Often, young people who live at home experience parents giving them a curfew or being nagged about how often they go out. This is just another way that adulthood is taken away from people in their 20s.
Theo’s sentiment is shared by many people who are being forced to move out of London: “There’s no point living in London if you’re broke. If you can only afford the rent then you’re not really living.”