Major Housing Crisis 'Heading For Midlands'

The housing market in the Midlands is ‘heading for a major crisis’, the latest figures show. 'Home Truths' Reports released by the National Housing Federation have found that high house prices, rising rents and a lack of affordable housing are making living in the Midlands harder than ever. The research shows that the average home in the West Midlands costs £177,913 - nine times the average regional income of £19,864. The East Midlands did not fare much better, with the average home costing £164.921 – more than eight times the average regional income. Private sector rents in the East Midlands also made the area expensive to live with an expected rise of 25 per cent over the next five years - the steepest rise of any English region. There are nine regional reports to be found on the NHF website.