56% of Londoners say that energy bills are unaffordable and 59% have seen their housing costs go up in the last 12 months – with 39% of Londoners reporting that they’re struggling to make ends meet.
To cope, a majority of Londoners say they’re cutting back – spending less on clothes (64%), eating out (63%), and holidays (54%).
Many have been forced into more drastic action with 42% cutting back on household essentials, 41% cutting back on essential food items, and 11% using a food bank in the last month.
The results come from new polling by independent think tank Centre for London and market research company Savanta. The polling is part of Centre for London’s ‘The London Intelligence’ series, providing a regular snapshot of Londoners’ views.
The percentage of Londoners saying they are struggling to make ends meet and the percentage reporting using a food bank have both increased since March 2022.
The polling also found that 65% of renters in London say their housing costs have gone up. The recent census showed the percentage of people in London renting has risen to 30% – levels not seen since the 1970s, meaning more and more people are feeling the pinch.
Centre for London Research Manager Josh Cottell said:
“There’s a stereotype of London as a place where only rich people live, but this polling shows how many ordinary Londoners are having to make tough choices to get by.
The cost of living crisis isn’t going away with more than one in ten Londoners using a food bank recently, the highest we have ever seen.
Londoners urgently need better support from government so pay and benefit rates match the true cost of living.”