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London's income growth outpaced the UK average, but housing costs are making life harder for residents.
London's living standards have risen more than twice as fast as the UK average over the past decade, driven by strong economic growth in finance, tech, and professional services, but soaring housing costs are eroding gains, especially for young residents.
Despite rising incomes, Londoners spend a higher share of their earnings on housing than in other major UK cities, with affordability pressures mounting due to a shortage of homes, planning constraints, and stalled affordable housing projects.
While cities like Brighton and Worthing also saw strong income growth, they now face similar risks.
The Centre for Cities urges urgent planning reforms, increased housebuilding, and targeted policies to ensure economic progress translates into better living standards, not just higher costs.
El crecimiento de los ingresos de Londres superó al promedio del Reino Unido, pero los costos de la vivienda están haciendo la vida más difícil para los residentes.