Research: Peabody Index 2019 - tracking the experiences of low-income Londoners

Latest findings from housing association, Peabody, reveals the plight faced by low earners in London is worse than thought – with wage inequality increasing significantly since 2010, to the point where incomes have now actually declined in real terms.

The report finds:

• Despite the fact full-time employees on bottom decile wages have seen their incomes increase by 15% in the last ten years, inflation (based on the headline UK Consumer Price Index) rose by 25% over the same period
• Private rents in London have risen by 27% in the last decade: almost twice as fast as the median wages of full-time employees.
• Londoners' wage growth has lagged behind the rest of the country, leaving people on low incomes in the capital worse off and unable to meet their rising living costs. 

Peabody finds that just 2% of its residents said they felt "significantly better off" compared to the same time last year, as opposed to the 15% who said they felt "significantly worse off".