This is a complicated topic which seems to have derailed considerably from the original discussion. My two (or three or four) cents on the topic are: 1) There needs to be meaningful rent reform that provides more security to renters to live somewhere long term without the fear of being kicked out or facing significant increases in rent. Part of this is that the market needs to adjust to longer term contracts (say, +5 years with breaking only possible by the tenant), with rights to renew, etc. The other part is rent control. 2) A lot more houses need to be built. I always thought part of the problem here is planning permission (though, I think a lot of people disagree). Frankly, I am not sure why places such as ED do not have more 5 - 10 story builings. 3) There should be a tax break for renovating properties for residential purposes. There are a lot of houses that are vacent at the moment because they are in significant disrepair. Many of these properties could be made more affordable if the capital required upfront was not such a burden. Also, renovating over the long term will boost quality and stock of housing in London. 4) Key worker schemes aren't affordable for key workers, and more should be done to help make sure that key workers are able to live in the city. I have quite a few friends who would be considered "key workers" but have zero chance of living in zone 1 and 2 because of prices.