A majority of Londoners who rent their home say they have been priced out of property ownership forever.
London Councils, which represents all local authorities in London, commissioned Ipsos MORI to survey Londoners on the capital’s housing stock and market.
The poll found that six in ten renters and half of all private sector renters do not expect to ever be able to buy their own home.
It also found that almost three-quarters of Londoners believe there is not enough “decent housing” in the capital while four in ten private renters say they are unable to afford to move.
82% disagreed with the suggestion that housing would become more affordable over the next two years.
London Councils’ Executive Member for Housing, Mayor Sir Steve Bullock, said: “This poll shows that many Londoners who rent their home feel they have been priced out of the housing market for good.
“London is currently in the throes of a housing crisis and this survey illustrates that there is an acute shortage of affordable accommodation, resulting in rising rents and house prices that are steadily increasing beyond the reach of first time buyers and families who want to rent.”
Bullock added: “More new homes need to be built at the right size, in the right place and at the right price, and the market is still not delivering this.”