Young families priced out of buying a home in Ryedale

Gazette & Herald: Young families priced out of buying a home Young families priced out of buying a home

YOUNG people face being priced out of buying their own home as house prices in Ryedale rise beyond wages, new research has shown.

Figures published by housing charity Shelter shows the impact increasing house prices will have on young people and families trying to buy homes as house prices rise but wages lag behind.

Ryedale residents are facing a £17,818 gap between what they currently earn and what they would need to be earning to buy a house, meaning people would need a pay rise from £20,389 to £38,207.

The charity collected figures from 1997 to examine wage and house price inflation, which were then used to calculate what the average annual income should be for an area if wages had risen at the same rate as house prices had.

Shelter’s chief executive Campbell Robb called for the government to do more to help those struggling to get on the property ladder.

“When you would 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,” he said.

“The reality is that successive governments have failed to build affordable homes that this country needs, and as a result our housing shortage has reached crisis point.

“Politicians need to start meeting people halfway by committing to bold solutions that will get more affordable homes built.

Otherwise future generations will find themselves priced out of a stable home.”

Shelter went on to say that the “staggering” results showed that there was not a single area in the country where wage and house price inflations had remained aligned.

A spokesman said: “This leaves thousands of people priced out of the property market.”

Comments (2)

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4:13pm Wed 26 Feb 14

Roger S says...

There are schemes to help people with low rents etc. but often there aren't enough local people who qualify to take them when they are provided (e.g. Nawton Beadlam couldn't fill one house recently with a local family so it went to outsiders who under occupied it). This area is generally one where retired people with money or older families are dwelling so the wage gap may be deceiving. Many people also inherit somewhere along the way to help and before recent times renting was normal and is in many countries. The government would help by just allowing people to build more houses slowly but surely, so the young can even get reasonably paid training/jobs building them too! Not suddenly allowing builders to come along and build 15 years worth at once like they have tried at Ampleforth and Kirby. We need lots of building, but in lots of little places ideally rather than massive building sites that strain infrastructure and create dust for neighbours for years and years and obliterate the character of a tourist area. Ideally we should have a local industry built around it, so tackling both problems rather than just firefighting by allowing big companies to come in and bulldoze then take the money out of the locality. There aren't enough tradesmen to build lots suddenly so a measured approach is best.
There are schemes to help people with low rents etc. but often there aren't enough local people who qualify to take them when they are provided (e.g. Nawton Beadlam couldn't fill one house recently with a local family so it went to outsiders who under occupied it). This area is generally one where retired people with money or older families are dwelling so the wage gap may be deceiving. Many people also inherit somewhere along the way to help and before recent times renting was normal and is in many countries. The government would help by just allowing people to build more houses slowly but surely, so the young can even get reasonably paid training/jobs building them too! Not suddenly allowing builders to come along and build 15 years worth at once like they have tried at Ampleforth and Kirby. We need lots of building, but in lots of little places ideally rather than massive building sites that strain infrastructure and create dust for neighbours for years and years and obliterate the character of a tourist area. Ideally we should have a local industry built around it, so tackling both problems rather than just firefighting by allowing big companies to come in and bulldoze then take the money out of the locality. There aren't enough tradesmen to build lots suddenly so a measured approach is best. Roger S

10:02pm Thu 27 Feb 14

browbeaten says...

Mm 2million houses short in the uk. Mm labour flooded in its tenure treble that number of immigrants problem solved. The only top tip i have is emigrate. 74 cars per k of road. Highest in Europe. . We are simply full n.a.
Mm 2million houses short in the uk. Mm labour flooded in its tenure treble that number of immigrants problem solved. The only top tip i have is emigrate. 74 cars per k of road. Highest in Europe. . We are simply full n.a. browbeaten

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