The proportion of people in rented accommodation in London has increased from one in four to one in three in just five years.
In 2010/11, 24% of people in the region were living in private rented accommodation, by 2014/15 this had risen to 29%.
The change is even more dramatic in outer London, where the proportion in private rented accommodation has risen from 21% in 2010/11 to 28% in 2014/15. People in inner London are the most likely to rent, with three in 10 in private rented accommodation.
Over the same period, the region has seen a fall in the proportion of people who own their home outright, from 25% to 22%, and a fall in the proportion of people who are buying with a mortgage, down from 30% to 28%.
London was also the only region where the median private sector rent (£239 per week) was markedly greater than the median mortgage payment (£201 per week).
Private rented accommodation in London
Across the UK, the proportion of 16 to 24s in private rented accommodation has grown from 48% in 2004/05 to 69% in 2014/15.
For 25 to 34-year-olds, the increase in private renting, which has seen the proportion rise from 24% to 44% has mostly been at the expense of buying, with the proportion buying with a mortgage dropping from 56% in 2004/05 to 37% in 2014/15.
All age groups apart from pensioners are more likely to be in private rented accommodation than 10 years ago.
For those aged 35 to 44, the rate has jumped from 11% in 2004/05 to nearly a quarter (24%) in 2014/15, while it has doubled from 7% to 15% for 45 to 54-year-olds and is up from 6% to 8% for 55 to 64s.
For both 35 to 44s and those aged 45 to 54, there have been corresponding drops in the proportions buying with a mortgage. For those aged 35 to 44, the proportion buying with a mortgage has dropped from nearly two-thirds (64%) to just over half (51%), while it has fallen from 56% to 48% for those aged 45 to 54.
The increase in private renters may be a combination of younger people struggling to get out of rented accommodation and older people being more likely to have moved into the sector.