The cost of rising net migration for the average person depends on how the increased population affects housing, public services, and wages. Here’s an estimate based on key areas:
1. Housing Costs
More people in the country increase demand for housing, which can drive up rent and property prices.
- Renters: The average private rent in the UK increased by 9.1% in the year to November 2024, adding around £100–£150 per month to the average renter’s costs, depending on location.
- Homebuyers: Higher demand could add £10,000–£15,000 to property prices in high demand areas like London or Manchester, increasing the upfront costs and long term mortgage payments.
2. Public Services and Taxes
While migrants contribute through taxes, greater demand for healthcare, schools, and transport could lead to stretched resources. This might:
- Increase waiting times: A typical GP appointment in busy urban areas could be delayed by another 1–2 weeks.
- Higher taxes in the future: If the government needs to expand public services, the average taxpayer might face a tax increase of £200 £300 annually to fund additional services.
3. Wages and Employment
The impact of migration on wages varies by sector.
- Lower paid sectors: Increased competition may slow wage growth, potentially leaving workers in fields like hospitality or retail earning £500–£1,000 less annually than they would otherwise.
- Skilled industries: Workers in high demand sectors like IT or healthcare may benefit, seeing wage increases of 3–5% annually due to demand for skills.
For the average person, the costs of a rising population vary significantly based on where they live and their financial situation. Urban renters and those reliant on public services may see higher costs and longer waits, while skilled professionals may benefit from wage increases.
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