Nearly half of people worry about housing costs

14th January 2025

Analysis by Shelter and HSBC has shown that 52% of people paying housing costs are starting the new year worried about housing or financial pressures.

The research also found that 67% of people with housing costs have experienced housing pressures over the past year. Of those experiencing housing pressures, 57% said they have lost sleep over issues including high rents, poor conditions and the risk of eviction. The poll saw 21% of those paying housing costs say they have struggled to keep up with mortgage or rent payments, while 37% have had to cut back on essentials to afford their housing costs.

Housing pressures are taking an even greater toll on the mental health and well-being of millions of people up and down the country. Over two-thirds (71%) of people with housing costs reporting a housing issue say they feel anxious, and just less than half (49%) say they feel hopeless due to their housing situation.

Shelter and HSBC UK are urging anyone who is feeling the negative impact of housing pressures to seek expert support as soon or to reach out to their bank for broader financial health support. Accessing support sooner rather than later can prevent these issues from escalating and stop them from having an even greater impact on physical and mental health.

Shelter’s Emergency Helpline Manager, Nadeem Khan said “Up and down the country, the housing emergency is raging and as we enter a new year, millions of people are feeling the devastating impact of a lack of genuinely affordable social homes and record high private rents.

“Every day, across our frontline teams, we see and hear about the crippling financial pressures and heartbreaking situations people are facing. Parents tell us how they are spending sleepless nights anxious about losing their home and having to move away from their work, communities and children’s schools.

“At Shelter, we know how vital it is that people seek help for their housing issues as soon as possible. It’s only through the help of our partnerships like HSBC UK, that we are able to continue to do all we can for those at crisis point, and help people find and keep hold of a safe home.”

HSBC UK’s Head of Vulnerable Customer Standards, Maxine Pritchard said “If you’re feeling worried about your finances or housing situation this new year, you’re not alone – and getting advice and support early can make all the difference.

“Home is everything, and together with Shelter we’re working to help more people and communities build financial resilience and access meaningful support before they reach a crisis point. The important thing is that people feel able to access information and support in a way that works best for them. We will not judge, and we’re ready to help.”