Opinion

UK cost of living: homes versus wages

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Did you know that in 1999 the average UK wage was £20,800? Compare this with 2014 where the average wage was £26,394, this represents a wage increase of 27% in just over 15 years – not much, right?

But what can you do with your money today? Thinking about buying a home? The average cost of a home in 1999 was £74,096, while the average cost of a home in 2014 had risen to a staggering £177,824 – not much for your 27% wage increase!

With it being ever more difficult for first time homebuyers to get on the ladder, this interesting infographic produced by Swift Money takes a look at how the cost of living in the UK versus wages and how different regions in the UK have fared over the last 15 years.

The results make for some interesting reading, with statistics suggesting we could be heading towards a very real cost of living crisis in the not to distant future…

Swift Money Infographic - Final Draft

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