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11/10/2012
Spending On Housing Exceeds Food Expenditure
New figures from the Central Statistics Office show that families are spending more on housing than on food for the first time ever.
The report reveals that housing costs have soared by over 50% in just five years as families battle with the legacy of the building boom.
It also shows that traditional families with children are the most squeezed as their average incomes have fallen by 5% since 2005, whereas other types of households saw slight increases.
Overall, Irish households now spend 18% of their income on housing, compared with 16% on food, a dramatic shift since 2005 when only 12% of our income went on housing.
The new Household Budget Survey shows people are spending less on luxuries like drink and cigarettes but significantly more on necessities such as fuel and lighting.
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The report reveals that housing costs have soared by over 50% in just five years as families battle with the legacy of the building boom.
It also shows that traditional families with children are the most squeezed as their average incomes have fallen by 5% since 2005, whereas other types of households saw slight increases.
Overall, Irish households now spend 18% of their income on housing, compared with 16% on food, a dramatic shift since 2005 when only 12% of our income went on housing.
The new Household Budget Survey shows people are spending less on luxuries like drink and cigarettes but significantly more on necessities such as fuel and lighting.
(H)
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