More than 2 in 5 employed people have been forced to quit their work due to local housing costs
Job hunters are increasingly taking housing costs into consideration when searching for new employment, a new survey has revealed.
The vast majority of respondents of the survey by Strutt & Parker, some 85%, stated that the cost of housing was one of the key factors in whether they would accept a new job or not, as it was would impact their job mobility and employment satisfaction.
In a poll of employed people, nearly half (44%) claimed to have neither applied nor accepted a new job because of the high costs associated with renting or buying such as house prices.
Similarly, close to half (41%) had taken the decision to leave their current employment due to how much it cost to live in their local area.
When asked how long their commute took, the survey found the average to be 34 minutes. However, 1 in 10 respondents said they faced a commute of more than one hour in each direction.
Additionally, many of those polled said they opted for the longer journey time to and from work in order to find more affordable housing.
But the report also revealed that the increased commuter times were making more people tired as a result, with 40% of respondents claiming the travel was making them less productive.
Strutt & Parker suggested the change in attitudes to commuting is the direct result of the rise of flexible working and the gig economy, with Edward Church, a Sales Agent at the firm, saying:
“No longer limited to the golden hour commute time, people are prepared to travel much longer distances if it means better schools, cheaper house prices and an overall better family lifestyle.”
Property prices and rental payments are so high that more than half of all young adults aged 18 to 34 are living with their parents in order to save for a deposit.