London professionals seek cheaper housing via guardianship

London professionals are increasingly turning to property guardianship, living in vacant buildings for significantly reduced rent due to high housing costs. This trend is driven by the rising cost of living. Property guardianships, once popular with creatives, now attract individuals from various professions, including medical, legal, and accounting. Demand has surged, with applications up 60% between 2022 and 2024, reflecting the financial benefits. These arrangements offer affordable housing in unique spaces, like former pubs or offices, but guardians typically face short notice periods to vacate. The PGPA attributes the growth to the unaffordability of traditional rentals.