Wednesday 26 July 2017

Irish homes spending more on mortgages and rent - and less on food

Stock photo
Stock photo

Brian Hutton

Irish homes are spending less on food and more on mortgage repayments and rent, latest official figures reveal.

A survey of household budgets around the country reveals an average of around €123 a week is spent on eating - less than 15pc of outgoings.

In 1980, householders spent almost twice the proportion of their weekly bills on groceries or eating out.

Over the same period, the cost of keeping roofs over heads accounted for much more of an average household's spending.

Read more: Would you pay €700 a month to live in a log cabin in Coveney's constituency?

Again, in 1980, mortgages and rent were making up around 7pc of a home's outgoings.

The latest figures from the Central Statistics Office show this figure has soared to almost 20pc - or a fifth - of weekly bills last year.

The sharpest rise in home loan or rental payments has been over the last 17 years.

The Household Budget Survey also shows medical costs, childcare, education, pensions and telephone bills are all increasingly eating into weekly outgoings.

At the same time, there has been a dramatic drop in the amount being spent on alcohol and tobacco, down by nearly 30% over the past five years.

Press Association

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