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Friday 01 April 2022 2:17 pm

Londoners more worried about housing and work situation than those in any other region of the UK

By: Louis Goss

Those living in London are more worried about what their work and housing situation will look like when they’re older, than those living in any other region of the UK.

Although Londoners are confident in their health and believe they have enough savings to last them into old age, those living in London have significant concerns around work and housing as they look towards their futures, according to polling from Phoenix.

The figures come as more people living in London than in any other UK region said their savings situation had improved during the pandemic, as 25 per cent of Londoners said Covid had led to them feeling more confident about their savings.

However, the figures come as Londoners face the UK’s most expensive property market, with house prices averaging £667,000.

Meanwhile, those living in Wales showed the least confidence in their savings situation, despite being most confident in work.

Those in Northern Ireland also said they had major concerns about their savings, as Northern Irish people were most likely to say the pandemic had made their savings situation worse. Nonetheless, those living in Northern Ireland were more confident than anyone else that they could rely on family support.

The figures come as two in five Brits said they expect they will be forced to eat into their savings to deal with UK’s cost-of-living crisis, while 14 per cent said they don’t have any savings at all.

Catherine Foot, Director of Phoenix Insights, said: “Those living in London are more worried about what their work and housing situation will look like when they’re older, than those living in any other region of the UK.”