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Wednesday, January 04, 2012

What the Dickens?

Dickensian living is still very much alive in parts of London. The Economist describes garages with beds in and shared properties with eleven tenants to a room in the borough of Newham.

The council is attempting to crack down on rogue landlords, and have even brought cases under the Proceeds of Crime Act, originally created as a tool against drug dealers. The Act enables courts to hand out stiffer penalties including custodial sentencing.

However the continuing housing shortage is only set to get worse as the rental sector becomes increasingly reliant on a private rental sector in a time when the sector is becoming less and less attractive to an investor.

Expect conditions to become more and more Dickensian over the coming years as the crisis continues to be swept under political rugs.

Read the Economists description of rental property in Newham

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