43% of parents living in London say they delayed or considered delaying starting a family because of the rising cost of housing in the capital, a new survey by the UK’s largest parent charity, NCT, reveals.
Parents living in London listed the cost of their rent or mortgage as their biggest financial concern overall, with 40% listing it top and 61% listing it in their top two concerns, compared to 34% and 55% of parents nationally.
73% of London parents were worried that they will have to cut back on essentials to meet the rising cost of their rent or mortgage.
Of these, 77% said they would choose to cut back on energy, whilst 71% said they would to cut back on food.
NCT CEO, Belinda Phipps said:
“Our research shows that high housing prices in London are forcing parents to delay starting a family, and is evidently putting huge pressure on parents and parents-to-be. As a result, many parents are waiting longer than they would like to have a baby.
“To help ease financial pressure on mums and dads in London, NCT would like to see maternity and paternity pay being kept in line with the rate of inflation, giving parents more options and flexibility when it comes to raising a family.”
About the survey:
Survation interviewed 1,006 parents of children aged three and under in the United Kingdom, from 24th - 28th January 2014, on behalf of the NCT. Survation is a member of the British Polling Council and abides by its rules. A full copy of the report, Early Parenthood Survey, can be found here.