Focus on London - Income and Spending at Home

FOCUSONLONDON2010:

INCOMEANDSPENDINGATHOME

Household income in London far exceeds that of any other region in the UK. At £900 per week, London’s gross weekly household income is 15 per cent higher than the next highest region. Despite this, the costs to each household are also higher in the capital. Londoners pay a greater amount of their income in tax and national insurance than the UK average as well as footing a higher bill for housing and everyday necessities. All of which leaves London households less well off than the headline figures suggest.

This chapter, authored by Richard Walker in the GLA Intelligence Unit, begins with an analysis of income at both individual and household level, before discussing the distribution and sources of income. This is followed by a look at wealth and borrowing and finally, focuses on expenditure including an insight to the cost of housing in London, compared with other regions in the UK.

This report is the third release of the Focus on London 2010 series following Population and Migration and Health. Reports on a wide range of themes will be released regularly throughout the year.

See other reports from this Focus on London series.

PRESENTATION:

This interactive presentation finds the answer to the question, who really is better off, an average London or UK household? This analysis takes into account available data from all types of income and expenditure. Click on the start button at the bottom of the slide to access.

REPORT:

To view the report online click on the image below.

Alternatively, access the report in PDF format.

CHART:

This chart shows that all key measures of both income and expenditure are higher in London than in England as a whole. However, there are still significant differences between them, with housing costs tending to be far higher than the national average.

RANKINGS:

This interactive chart shows some key borough level income and expenditure data. This chart helps show the relationships between five datasets. Users can rank each of the indicators in turn.

MAP:

These interactive borough maps help to geographically present a range of income and expenditure data within London.

DATA:

All the data contained within the Income and Spending at Home report as well as the data used to create the charts and maps can be accessed in this spreadsheet.

FACTS:

Some interesting facts from the data…

● Five boroughs with the highest median gross weekly pay per person in 2009:

1. Kensington & Chelsea - £809

2. City of London - £767

3. Westminster - £675

4. Wandsworth - £636

32. Brent - £439

33. Newham - £422

● Five boroughs with the highest median weekly rent for a 2 bedroom property in October 2010:

1. Kensington & Chelsea - £550

2. Westminster - £500

3. City of London - £450

4. Camden - £375

32. Havering - £183

33. Bexley - £173

● Five boroughs with the highest percentage of households that own their home outright in 2009:

1. Bexley – 38 per cent

2. Havering – 36 per cent

3. Richmond – 32 per cent

4. Bromley – 31 per cent

31. Tower Hamlets – 9 per cent

32. Southwark – 9 per cent