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flag UK household spending on housing hit a record £217 billion in 2024, marking a 60% increase over a decade.

flag In 2024, UK households spent a record £217 billion on housing, up £8.6 billion from the 2016 peak, adjusted for inflation. flag This marks a 60% increase in housing costs over the past decade. flag The average annual rent for private renters reached £14,458, up £2,195 from two years ago. flag Social renters saw their costs rise by £560 to £5,478. flag London households accounted for a quarter of total housing costs. flag The Bank of England's base rate is currently 4.5%, but potential cuts could ease mortgage costs. flag Around 1.8 million fixed-rate mortgage deals are set to end in 2025.

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