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☆ Opinion: ‘I messaged 180 people and got 6 viewings.’ The crushing reality of renting in this city
  + stars: | 2023-11-29 | by ( Opinion Jemal Polson | ) edition.cnn.com   time to read: +7 min
This isn’t due to a constant need to be in new surroundings and no, I do not own four homes. When I was searching for a new place to live over the summer last year, I messaged more than 180 people and only managed to get six viewings through the entirety of my search. London tenants are paying an average of £2,627 ($3,293) per month for rent – a 12.1% increase over the last year alone. I haven’t felt secure in a rental property in years – partly due to feeling as though I’m at the mercy of landlords who have the power to change my situation at a moment’s notice. No matter your relationship status, age or gender identity, no one in London is going through renting unscathed.
Persons: Read, I’ve, Jemal, SpareRoom.com, I’m, SpareRoom, –, It’s, ”, They’re, they’ve Organizations: CNN, London CNN — Locations: London
☆ Want to live in London or New York? Good luck if you’re renting
  + stars: | 2023-09-23 | by ( Anna Cooban | ) edition.cnn.com   time to read: +7 min
London CNN —In May, Viveca Chow hurriedly transferred $3,700 over her phone while standing in the lobby of a building in Queens, New York. Average rents in New York and Sydney grew by an inflation-busting 4.7% and 6.9% respectively in the year to August, according to real estate firm Knight Frank. While growth in rental costs in both cities has slowed compared with its pandemic peaks, average rents are still at all-time highs. The Manhattan skyline reflected on the East River Ferry near the Queens borough of New York CIty in August 2022. Lifestyle influencer Viveca Chow feels lucky to have found a rent-stabilized apartment in New York City.
Persons: Viveca Chow, Chow, Knight Frank, Ismail Ferdous, Realtor.com, SpareRoom, Barnaby Scudds, “ I’m, ”, Andy Raim, Matt Hutchinson, ” Hutchinson, Liam Bailey, ’, Sadiq Khan, Nikodem Szumilo, ” Szumilo, Szumilo, Viveca, ” Chow, you’re Organizations: London CNN —, CNN, Bloomberg, Getty, Hamptons, Office, National Statistics, Bartlett Real Estate Institute, University College London Locations: Queens , New York, New York, Sydney, Manhattan, Queens, London, United Kingdom, Bartlett, Tokyo, New York City, That’s
☆ London’s rental market has become a ‘nightmare.’ Here’s why
  + stars: | 2022-11-21 | by ( Anna Cooban | ) edition.cnn.com   time to read: +7 min
“I think that I sent over 100 messages to different ads, and I only had [a] reply to 30 messages,” she told CNN Business. ‘You can’t hesitate’Matt Hutchinson, communications director at SpareRoom, told CNN Business that the capital has seen a “huge influx” of students, young people and overseas workers in recent months — demand that the pandemic kept bottled up. Landlords have been leaving the rental market as it becomes less and less profitable. Savills expects the average London rent — across all property types — to jump another 5.5% next year. Sally Vince, who works in commercial property, told CNN Business that after a “very stressful” time looking for her £700 ($832) room this summer, she took what she could get.
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