Would Brits be broke if food rose with house prices?

With house prices showing signs of increasing again, consumers may wish to be thankful the cost of their essential household shopping bills has not risen at the same pace.

According to Shelter, if the average grocery bill had increased in line with UK house prices, shoppers could now expect to spend £420 a week.

In 1971, the average home cost £5,652 to buy, but by 2008 this had risen to £227,765, the charity explains.

If milk, chicken and jars of coffee had risen by the same percentage, consumers could now stand to pay £2.43, £47.51 and £20.22 respectively for the items.

Overall, this would see the average weekly shop amounting to three times more than it currently does.

Shelter's director of policy and campaigns Kay Boycott said: "These calculations show just how out of line the cost of housing has become - yet we seem to have just accepted these inflated prices as normal in a way we wouldn't with anything else."

However, come Britons may not be able to except such high prices as the norm, particularly if they are having trouble saving up a big enough deposit or securing a mortgage.

As a result, they may instead wish to consider flats to rent in Notting Hill or another art of London as a more affordable option.

James Davis, chief executive officer of upad.co.uk, recently claimed renting offers people a more flexible lifestyle, while they are also not expected to fork out for expensive home repairs.

Written by Chris Price

Published 16th February, 2010

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