London's luxury housing market has "exploded" financial bubble. On the way - a modest housing market. We are about one-room apartments, which are usually removed millenialy - on AMarkets materials.
Countrywide report shows that one-bedroom apartments consume 57% of the monthly income of Gen 2000s. This is 16% more than in 2007. The average rent for a small house in London - it's $ 1609 per month. This is 48% higher than in the last nine years. At the same time according to Bloomberg, the British revenue for the same period increased by only 11%.
The graph shows how rose from 2007 to 2016 the share of rental expenses in the amount of British income: