The National Housing Federation’s Home Truths 2015/16 Report has shown that South East house prices now top the table outside London, with an average house in the region now costing £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 – taking up more than half of tenant’s incomes in parts of the region. This increase in unaffordability has been driven by a drastic shortfall in supply, with 19,810 fewer homes being built that needed to meet demand in the last year alone.
Top five most unaffordable areas in the South East
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Excerpt of article kindly shared by National Housing Federation. Read full article.