If the average earner in every English region were to
stand a chance of buying a home where they live, then they would need a drastic
leap in pay, according to the NHF – even in the North East where house price
rises have tended to lag behind other regions. Unsurprisingly, the South East
tops the league-table outside London. There, a would-be homeowner would have to
increase their salary by a massive 145% to afford an average home. By contrast,
the average worker in the North East would need a 46% boost in their earnings
before they could realistically afford to buy. The South East now faces average
house prices in the region of £312,242 –
nearly 11 times the local average salary of £29,037. This is mirrored in the
rental market, where typical rents have reached £864 per month. Read more on the Housing Excellence website.
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