High housing costs leave people strapped for cash
One in five people in the UK are spending more on running their home than they can afford, according to a survey by YouGov for the Chartered Institute of Housing.
The survey found that high housing costs are leaving people with little spare cash to make ends meet or save for the future.
A total of 21 per cent of people asked said they were spending more running their home than they could afford, and the figure for those living in private rented homes was higher, at 31 per cent.
People in Yorkshire and Humberisde are most under pressure, with 32 per cent struggling to meet housing costs. People aged 25 to 34 years and those with children are also struggling, with 27 and 26 per cent struggling respectively. In London individuals are left with as little as 25 per cent of their income after housing costs.
Sarah Webb, chief executive of the Chartered Institute of Housing, said: ‘We need government to recognise how unaffordable housing costs are for many people, not just in terms of becoming a homeowner, but covering day-to-day essentials.
‘If people are to save for a rainy day, avoid reliance on the public purse, put money into their local economy, and avoid ill health caused by financial worries and unsuitable housing, we need national action to improve affordability across the housing market.’