Housing affordability in the UK

Housing is the largest single component of household budgets: in 2013, UK households spent an average of £147.90 per week on housing, accounting for 21 per cent of total weekly expenditure. Trends in affordability depend on the housing affordability measure used, but the ratio of house prices to incomes is particularly relevant following rising housing costs that have outpaced increases in wages and benefits over the past 40 years. The consequences have been felt across all housing tenures as you can read in our briefing note: CSI 20 Housing affordability in the UK