One in five spending more than half of income on housing costs

Nineteen per cent of UK adults are spending more than half of their monthly net household income on housing costs such as mortgage or rent payments, utility bills or council tax, new research from Engen Group revealed.

Engen, the UK-based property business that addresses environmental challenges including affordable and sustainable housing, found that 4% of adults even spend over 75% of their monthly income on housing costs, while the average spend was revealed to be around 34%.

Affordable housing, Engen suggested, has been defined as spending 35% or less of your monthly income on housing costs. The latest research found 39% of UK adults are spending more than this, and for those aged between 18 and 34 years old, this figure rises to 47%.

Engen had commissioned the research company, Consumer Intelligence, to interview 1,029 people across the UK on their housing situation in October 2019.

Commenting on the study, Engen Group CEO, Graeme Boiardini, said: “Our findings are very alarming but given the housing shortage in the UK not entirely surprising. Thankfully building more affordable housing is at the top of the political agenda, so hopefully over the next few years we will see significant inroads being made into tackling this problem.”

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