Almost A Third Of All Spending By Under-30s Goes On Housing

Housing accounts for almost a third of all spending in households headed by someone under 30, compared to less than 20 per cent for those aged 50 to 74, according to the Resolution Foundation.

The RF analysis of the latest ONS figures show that:

·         The essentials of housing and food account for 43% of spending among the poorest fifth of households, compared with 29% among richest fifth.

·         Despite having disposable incomes more than six times higher than those in the poorest 20%, the richest fifth of households only spend just over three times as much.

·         This ratio drops to just 1.6 in relation to food & drink and 2.6 in relation to housing (even after accounting for Housing Benefit). But higher income households spend significantly more on household goods (4.1 times as much), recreation and leisure (4.5) and transport (4.9).

Read more on the Resolution Foundation website.