One in 10 Londoners say their mental health has been negatively affected by the anxiety of keeping up with their rent or mortgage, the highest proportion of any region in Britain, figures show.
The data emerged from an annual survey by the Office for National Statistics (ONS), listing the impact on psychological wellbeing of various issues felt by adults across Britain every winter.
It showed that 43 per cent of Londoners said they had seen their rent or mortgage go up in the past six months, higher than any other region.
Overall, 6 per cent of adults in Britain said that not being able to afford their housing costs had negatively affected their mental health. The figure rose to 10 per cent in London.
“The blame lies squarely with this Conservative Government for crashing the British economy and leaving homeowners to pick up the tab,” Liberal Democrat leader Sir Ed Davey told the Standard.
“The toll on people’s mental health following the mortgage crash is shocking, and it’s only right Conservative ministers now move heaven and earth to help those at risk of losing the roof over their heads,” the MP for Kingston and Surbiton added.
Not being able to afford food affected the mental health of nine per cent of respondents across Britain and in London, according to the ONS survey.
Ten per cent of Londoners also felt their mental health was negatively affected by having to work extra hours or find an additional job, the joint highest figure in Britain along with South-West England and the West Midlands.
The figures came as the Bank of England was today holding its latest rate-setting meeting.
The Bank was expected to keep interest rates at 5.25 per cent for the fourth time in a row, prolonging the misery of high borrowing costs despite a recent plunge in inflation, although some analysts predicted a shift in tone pointing to rate cuts ahead.
Coinciding with the ONS survey period, the average monthly rent being asked in London reached a record £2,631 per calendar month in the final quarter of 2023, according to Rightmove, while mortgages are also going up hundreds of pounds on average when fixed terms expire.
Prime Minister Rishi Sunak on Wednesday said “millions of mortgage holders across the country are benefitting from support” introduced by the Government last year after he succeeded Liz Truss, and said borrowing costs would surge again under Labour policies.
