Londoners ‘facing an onslaught’ of rising costs, survey finds

Londoners ‘facing an onslaught’ of rising costs, survey finds

Increasing numbers of Londoners, both employed and without work, say they are struggling to cope with the rising cost of living, according to newly-published survey data.

The figures, compiled by Savanta for think tank Centre for London, reveal that 35 per cent of the 1,549 respondents said they are struggling to make ends meet, an increase of six percentage points compared with when the same question was asked last June.

A majority of Londoners – 55 per cent – currently without a job and seeking work said it is difficult for them to get by and even one third of those in work said the same, which Centre for London says underlines an upward trend in working Londoners living below the poverty line.

Almost a quarter of Londoners – 23 per cent – are finding food to be unaffordable or very unaffordable, which is nearly double the percentage when the same question was asked last June.

A quarter also said that transport is unaffordable for them, up eight per cent since last June, while nearly half of of those renting homes (47 per cent) said they can’t afford their rents, a rise of six percentage points.

The challenge of meeting food costs was particularly marked among adults with children below the age of 18, renters as compared with homeowners and women by comparison with men.

The percentage of respondents who said they would be able to meet an “unexpected expense” of £500 has fallen from 73 per cent to 68 percent.

Savanta’s Oliver Worsfold commented: “It is saddening, but not surprising, that the perceived affordability of house prices, rent, food and transport is at its lowest since we began polling Londoners in 2020 – and this was even before the energy price cap was lifted on 1 April.’

Centre for London chief executive Nick Bowes said: “Londoners are facing an onslaught of rising costs in all areas, from food to council tax to housing and transport, so it is hardly surprising that many say they are struggling to make ends meet. The terrifying reality is that countless Londoners can no longer afford the everyday essentials they need just to get by.’

He added: “We are also seeing that those with the lowest incomes are suffering more than higher earners, because essentials such as food and energy represent a greater proportion of their household budgets. With the sharp increase of energy bills kicking in this month, the number of Londoners below the poverty line is likely to increase in the coming months.”

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