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Fears for millions 'housing pinched'.

NEARLY 1.6 million households in the UK are "housing pinched" - meaning that they see more than half of their disposable income swallowed up by rent or mortgage payments - according to think-tank the Resolution Foundation.

Households in which people are retired or not in work account for around one third of the housing pinched, leaving around one million households where people are in work but are still spending over half their cash on housing costs.

The Foundation's analysis also found that pinched households are more likely to rent privately, be young, live alone, live in one bedroom properties, have recently moved and live in London.

Laura Gardiner, an analyst at the Resolution Foundation who carried out the research, said: "The majority of the housing pinched are in work but on low and middle incomes, leaving little left over after housing costs to spend on other essentials.

"With house prices and rents rising in some parts of the country, interest rates expected to start to go up and income growth remaining weak, we should be concerned about the ability of this group to absorb additional pressure on their household budgets from higher mortgage payments and rents."

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Publication:Daily Post (Conwy, Wales)
Date:Aug 15, 2014
Words:195
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