25% expect housing costs struggle
Updated on 12 June 2009
One in four people expects to have problems meeting their housing costs during the coming year, research has shown.
The Chartered Institute of Housing (CIH) estimated 12 million people expect to struggle to pay their mortgage, rent or household bills in the coming year.
Around eight million are also thought to have shelved plans to move during the past 12 months due to the recession and credit crunch.
Less well-off families are most likely to be worried about their ability to keep up with their housing costs, with 30% of people in the C2DE income category concerned, compared with only 22% of those who were classed as being ABC1s.
The research found people in manufacturing-based areas such as the Midlands were more likely to be concerned about their financial situation than those in other areas.
Younger people also appear to be hardest hit by the downturn, with 29% of people aged between 18 and 24 worried about how they will pay their housing bills, but this falls to 22% among those aged over 55.
The research also found demand for social housing is increasing, with 61% of housing professionals reporting a rise in demand.
One in three housing workers said they were seeing rising demand from people employed in white-collar professions, while 40% said they had seen an increase in homeowners who wanted to step off the property ladder.
Sarah Webb, chief executive of CIH, said: "Shelving your housing plans may mean not being able to accept a job offer because you can't move.
"It may mean having to remain in over-crowded housing or having to delay your plans to start a family, it may mean having to remain living care-of your friends or family or staying in insecure, temporary accommodation because you can't find an alternative. Whatever it means for many households it will be a real problem."
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