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UK household spending on housing hit a record £217 billion in 2024, marking a 60% increase over a decade.
In 2024, UK households spent a record £217 billion on housing, up £8.6 billion from the 2016 peak, adjusted for inflation.
This marks a 60% increase in housing costs over the past decade.
The average annual rent for private renters reached £14,458, up £2,195 from two years ago.
Social renters saw their costs rise by £560 to £5,478.
London households accounted for a quarter of total housing costs.
The Bank of England's base rate is currently 4.5%, but potential cuts could ease mortgage costs.
Around 1.8 million fixed-rate mortgage deals are set to end in 2025.
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El gasto de los hogares del Reino Unido en vivienda alcanzó un récord de 217.000 millones de libras esterlinas en 2024, lo que representa un aumento del 60% en una década.