London homeowners have taken £3500-per-year income hit since 2010

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Wage inflation was outstripped by rising rents and mortgage payments last year, meaning there has been a 16% drop in London homeowners’ disposable income since 2010.

The Affordability Watch report by property agent Cushman & Wakefield showed homeowners with children are among the worst hit.

It said that rising childcare costs means they have dropped into negative territory and are overspending by £10,767.

 

Conversely, renters in London are in a financially better position, with disposable income of over £25,000; 43% higher than owner-occupiers.

However, Cushman said 2015 could be a better year for consumers’ wallets as falling oil prices should help trim energy costs to households.

Source Article from http://www.standard.co.uk/business/business-news/london-homeowners-have-taken-3500peryear-income-hit-since-2010-10241100.html

May 11, 2015 |
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