‘London is my home, I’m going to be forced out’: How are young people coping with the cost of living in London?

National World - LocalTV

We spoke to students about what life is like as a student in London, how difficult it is to pay rent, and whether they think it will be possible to buy in the capital.

Transcript

00:00 It's just sad that I'll probably be forced out of where I grew up and where I lived

00:05 unless I have to fork out, you know, extortionate amounts for rates, for rent, or if I just wanted to buy.

00:12 It's not affordable.

00:15 How would you describe the cost of living in London as a student?

00:20 I mean, I'm quite lucky that I've had the support of my parents and that I've been able to live at home

00:25 while I do my degree, but I know that's not the case for everyone.

00:28 I know that other people have had to rent at extortionate prices that I could never ever afford.

00:34 So I'm quite fortunate to actually live in the city that I grew up here, so it's not that bad.

00:41 When I just moved here, I thought, "Oh wait, London's fine."

00:44 But then as the months progressed, I realised, "Oh, I'm just losing out on money."

00:49 And then it just got difficult.

00:51 I had to shift from going on the Tube to going on the bus, and it just doesn't make sense.

00:57 It takes a lot of time. I'm constantly exhausted. I'm mentally exhausted as well.

01:02 But then it's just, I cannot afford to go by Tube every day.

01:05 So it's horrible.

01:08 And you mentioned not being able to afford renting. Is that something you've looked at?

01:12 I looked at renting in London here, and I looked at, you know, even the halls prices was about £8,000 a year,

01:18 which isn't covered by a Master's loan.

01:21 Me and my partner have looked to move out, and, you know, at the moment it's just, you know, we could move out.

01:26 But we'd be on jacket potatoes and tins of beans, and it's, you know, it's not a quality of life.

01:31 It's not actually living.

01:33 So it's better to just stay at home at the moment and just, you know, stay at home.

01:37 But how long can you stay at home?

01:39 Last year we moved out to an apartment in East Finchley.

01:43 It was cheaper, and we were so lucky to find that place.

01:47 But at the same time, like, the first day we moved in, the door was broken.

01:51 And in the first month, we found that the ceiling was leaking whenever there was rain.

01:58 Also, there was black mud in the shared corridor.

02:02 So it was horrible.

02:04 Do you guys ever think it would be possible to buy a property in London?

02:08 Is that something you would even consider doing?

02:10 No, it's not possible.

02:12 Me and my boyfriend, we are nowhere near buying a house, and we're just not actively thinking about it.

02:20 For me, since I'm living in a student accommodation, at the moment, I'm privileged enough to not think about the renting issue.

02:29 But then a few months down the line, I'll have to think about that.

02:31 So buying a house, especially here, is off the charts.

02:36 I'd love to buy in London.

02:38 I think, you know, it's my home. It's where I grew up.

02:41 My family and all my friends are here.

02:44 But I've spoken with my friends and my partner, and it's like having to move out of the area,

02:49 and moving up north.

02:51 I think it's just quite sad.

02:53 I think most young people come to terms with the idea that we'll never, ever be as rich as our parents,

02:58 or never have what they had.

03:00 I think it's just that reality, and that's what young people are living with nowadays.

03:04 [BLANK_AUDIO]

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