Man lives in garbage bin to save money on housing

“The thought of moving back into a shared house and paying a thousand pounds a month doesn’t seem too appealing,” Marshall told The Sun.

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“A lot of my friends are still struggling to find places, it’s still very competitive. They’re still going to viewings and there’s 20-odd people trying to get the same place.”

Marshall estimates his monthly costs while living in the skip to be £30.

It’s far less than the average rent for a studio flat in central London, which costs about £1500 a month.

Rents on new tenancies in Britain overall went up 10.2 per cent in the year to November, to £1348a month, but rose fastest in inner London, up 13.2 per cent in a year to £3174 a month.

British house prices rose 4.7 per cent over the year to December to an average £269,426, just shy of their 2022 records, but the average price of a London home rose 2 per cent over 2024 to £525,535.

The Bank of England’s official bank rate soared from 0.1 per cent in late 2021, to a peak of 5.25 per cent last year, and has since eased to 4.75 per cent. Local media have reported that first home buyers face a challenge in meeting the deposit hurdle and affording monthly repayments.

By contrast, the Reserve Bank of Australia has kept the cash rate at 4.35 per cent for over a year and has not started to cut yet. Australian median home values rose 4.9 per cent last year to a median $815,000, on CoreLogic data, but are higher in Sydney at $1.19 million.

As well as choosing to live in the bin to save on costs, Marshall wants to make a statement about the housing crisis.

He is the co-founder and director of CAUKIN Studio, a design and construction firm that focuses on community impact and international development.

The studio previously did two other skip house projects, in London and New York, but this is the first one to be used as a full-time residence.

“I think if I needed to stick it out for years, obviously I could,” he said.

“I’m quite comfortable there right now, but at some point I need a real place to live.”

He saved enough money on rent to fly to New York for his best friend’s engagement party.

However, he says it’s not enough to buy a house. Given the average rent for a studio in Southwark, London, and assuming a 15 per cent deposit, if he put his rental savings towards a deposit, he would need to live in his skip for 52.2 years, The Sun calculated.

This story was first published on domain.com.au.