In London, Renters Now Outnumber Homeowners

In London, the number of rented homes has just edged past the number that are owner-occupied, according to a report out this month. For the U.K.’s biggest city, this shift from owning to renting is, it seems, just the beginning. According to another new report, the ratio of renters to homeowners in London is expected to be yet greater by 2025, by which time the proportion of renters will have reached 60 percent.

This shift from ownership to shorter-term rental tenancies, one mirrored by trends in the largest North American cities, is likely to have a number of consequences. Being able to afford decent housing in London is liable to become even harder for the average person. At the same time, the growing volume of renters could theoretically force some major changes that would be to their advantage.