Want to buy a home locally – think again?

0
11

The National Housing Association has found that homes in Wealden are less affordable than central London.

The Federation, which represents housing associations, studied house prices and average salaries by borough and district council area.  They found Wealden was the tenth least affordable place to live in England.   The average house price in Wealden in 2013 was £291,535 and with average salaries being £19,932, houses are 14.6 times wages locally.

Perhaps surprisingly in London houses are just 10 times average earnings.  Across the country, the Federation found there are 62 areas less affordable than London.  The areas are mostly in rural areas with South Buckinghamshire, the Cotswolds and Chichester being in the top three.

One of the factors the Federation highlight in their report is the aging population.  In Wealden 23% of the population is over 65, this compares to 16% in England and Wales.  While there are some wealthy pensioners, many older people bought their homes when working and are now living on incomes lower than average.  It also need to be borne in mind that some people living in Crowborough commute into London and earn wages above local averages.

National Housing Federation report – Rural Housing – Countryside in crisis.

Other Housing stories you might be interested in reading.


What do you think?  Looking to buy your first home – and finding it difficult to find somewhere affordable?  As always you can comment below or on the Facebook page.

Share Your Views