June 25, 2018
By Scott Corfe
This report, commissioned by Peabody, provides new insights into the lives of individuals living in social housing in London – in particular, with respect to their living standards and financial situation. It draws on data from a wide range of official sources to track and analyse developments in incomes, savings and living costs. The key findings of the report are: Real incomes for social housing tenants in London are lower than a year ago. The latest datapoints in the Peabody Index show that average real household disposable incomes among social housing tenants fell between mid-2017 and March 2018, as incomes struggled failed to keep up with increases in the cost of living over this time period. While real incomes ticked up in April, driven by more rapid employee earnings growth and declines in inflation, this has not been enough to offset the negative effects of the recent squeeze on real incomes. The average household disposable income for social housing tenants in London stood at £406 per week in April 2018, 1.1% lower than a year ago, and down from £413 in July 2017 (expressed in April 2018 prices – that is, adjusting for inflation). On an annualised basis, this amounts to a decline in real household disposable incomes of about £389 between July 2017 and April 2018.