Housing costs now largest portion of household spend
People are spending less on food to cope with the rising cost of keeping a home, a new survey signals.
Average weekly outgoings on mortgages, rent and housing maintenance have rocketed by 56% from €94.51 in 2004/2005 to €147.73 in 2009/2010.
Five years ago, when the same survey by the Central Statistics Office was carried out, food accounted for the greatest single expense.
But money spent on groceries has dropped from €142.74 a week to €131.28.
Now, housing costs account for the largest chunk of weekly bills in Irish homes, at just over 18% of the average household’s overall expenditure.
The latest CSO Household Budget Survey also showed an average weekly drop of 16.3% in money spent on alcohol and tobacco, against an 8% drop in money spent on food.
The overall average household budget – covering everything from food, alcohol and tobacco, to housing costs, clothing, fuel and transport – was €810.61 in 2009/2010.
That represents a 3% hike in family budgets over a five-year period.
Money spent on transport dropped 5%, while outgoings on fuel and light jumped 15%.
According to the survey, spending on food and clothing has steadily declined over the last 30 years, while money spent on housing has gradually increased.
