News
Londoners battle with high housing costs
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