London's housing costs mean frugal living

Despite earning 40% more than the UK average, Londoners are finding themselves with less disposable income due to soaring housing costs. A recent report by the Institute for Fiscal Studies and the Economic Statistics Centre of Excellence highlights that, after paying an average rent or mortgage of £2,100, Londoners are left with limited funds for other expenses. Many young professionals report living hand-to-mouth, while those with disposable income are choosing to save rather than spend, impacting local businesses reliant on consumer spending. While the allure of London remains, the financial strain is prompting many to reconsider their living situation.

The Daily Telegraph (26/04/2025)