Poll
1 in 3 expect to be in arrears within a year
A third of people are concerned they won’t be able to pay off their mortgage or rent next year, according to the latest research from the Chartered Institute of Housing (CIH).
The figures revealed 33 per cent of the surveyors, equivalent to 10.3 million people, raised concerns over their ability to make payments on their mortgages, or even meet the demands of their tenancy in 12 months time.
A further 23 per cent, equivalent to around 7.2 million people are worried about their ability to pay rent or mortgages at this current moment in time.
The stats could be attributed to the increasing cost of living and flat lining in employment return, with more and more struggling companies turning to redundancies.
CIH chief executive Grainia Long said: “The fact that one in three people are worried they won’t be able to pay their mortgage or rent next year – and almost a quarter (23 per cent) are already concerned about their ability to pay at the moment – is extremely disturbing.
The figures were released ahead of the Institute’s annual conference, which is currently taking place at Manchester Central this week from 25-27 June.
Grania Long added: “The number of people worried about their housing costs will continue to rise, because we have failed to build enough new homes for decades. Decisive action is required to help fix our dysfunctional housing market. Long-term problems like this require long-term, fundamental solutions.
“Recent government announcements have shown ministers understand the importance of fixing our housing system, but we need housing to be understood as a national priority if we are to have any chance of dealing with this deepening crisis.”
By Ian Walker
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