DCSIMG

Figures reveal ‘out of control’ house prices

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editorial image

The majority of people on average wages in Bedfordshire would need to more than double their annual salary just to keep up with “out of control” house prices.

National charity Shelter has compared the average annual income with the house price inflation since 1997 to investigate how “out of sync” house prices have become.

It has revealed that the average wage in Bedford is just over £23k, whereas the average house price inflation sits at £46,927 – meaning wages would have had to be doubled to keep up with the price of buying a house.

And Central Beds paints an even bleaker picture with the average income being £23,280, with the house prince inflation coming in at £54,252.

Chief executive at Shelter Campbell Robb said: “When you’d need to more than double your salary just to keep up with rising house prices, it is no surprise that the dream of a home of their own is slipping further out of reach for a generation.”

The impact of the housing shortage has been widespread, with the latest Census showing a six per cent drop in the proportion of home owners in the East of England.

Meanwhile across the country the gap between wages and house prices continues to grow.

A spokesman for Bedford Borough Council said: “In both of the last two years, more houses have been built in Bedford Borough than in any of the previous seven years.

“In respect of affordable housing delivery, which in Bedford Borough has been carried out by housingassociations for the past 22 years, the delivery target for the Borough has also been met in every one of the past five years. “

Central Bedfordshire Council says it has been reviewing housing provision, and in the last four years it has delivered more than 1,300 affordable homes, which is above its target of 300 per year. It encourages use of Government Help to Buy schemes.

 

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