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Londoners battle with high housing costs

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
22/05/2015

Londoners must work 21 days each month simply to pay off income tax and housing costs, figures from the Halifax have shown.

The bank said those in the capital had to wait longer than anywhere else in the country to pay off housing costs.

By contrast in Scotland, Wales and Yorkshire and the Humber the typical household takes just 13 days to earn a month’s income tax and housing costs.

When all living costs are considered the average Brit takes 22 days to earn what they spend. Again this figure varies between different areas of the country.

Londoners take 26 days on average compared to 20 days in Scotland, the North West and Yorkshire and the Humber.

This is based on the average UK household monthly living cost of £2,043 from an average gross monthly household income of £2,956.

Nick Young, head of Halifax current accounts said: “Managing income versus expenditure over the course of a month can be a juggling act for some families.

“Halifax’s research shines a light on just how many days of the month the average household must work in order to cover their living costs and have money left to do with as they wish. It offers a fresh perspective on the reality of the cost of living for the average UK household.”

Region, Date when income tax and housing costs have been paid:

Yorkshire and the Humber           13 May 2015

North West                                       14 May 2015

North East                                        14 May 2015

East                                                    14 May 2015

East Midlands                                  15 May 2015

West Midlands                                 15 May 2015

South West                                        15 May 2015

South East                                         17 May 2015

London                                               21 May 2015

 

Scotland                                             13 May 2015

Wales                                                  13 May 2015

Northern Ireland                              14 May 2015

England                                              15 May 2015

 

UK                                                   15 May 2015