INDUSTRY NEWS: RURAL HOUSING PRICES 10 TIMES HIGHER THAN
A recent analysis by the County Councils Network (CCN) of the UK Housing Price Index for December 2018, has revealed that the price of houses in rural counties are, on average, of 10 times higher than the typical annual earnings of the population.
Counties which have suffered the most in this housing crisis include Cambridgeshire and Surrey, where, in some instances, buyers are paying over 14 times their annual salary, almost double the national average of 8.2 times average earnings.
The representative body for county councils has stated that the recent analysis emphasises the manner in which the ongoing housing affordability crisis has spread from London to affect counties, where wages are lower. Within the country’s 27 counties, the average house price is currently £100,000 more than in urban areas outside of the capital.
Recent comments by The Planner magazine have suggested that “a “fragmented” planning system is holding back development in county areas, pushing up house prices…and it is compounded by annual wages in those areas being £1,700 lower than the national average.”
County councils and leaders are further urged to work in much closer collaboration with district partners to deliver more homes.