London workers 'will need to earn £120,000 to rent by 2020'

Workers will have to earn £120,000 a year to afford to rent a home in London by 2020, it has been warned.

Labour said the average rent for a two bed house in the capital will be over £2,000 a month in five years time if rises continue at the current rate.

Tom Copley, the party's housing spokesman on the London Assembly, said the cost of renting a one bed property will hit £2,000 by 2025.

Average private rents for three or four bed houses in London have already broken the £2,000 barrier.

Mr Copley said: "These figures show just how broken the London rental market has become. We desperately need to call time on ever increasing rents, which are driving many people into poverty or out of the capital altogether.

"There's no way that rents consistently rising faster than wages is sustainable in the long term."