Survey finds those in North and North East Yorkshire struggle with house prices

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14th December 2015 12:06 - Housing

A report by the National Housing Federation (NHF) has discovered that house prices in some areas of North Yorkshire is now an average of Survey finds those in North and North East Yorkshire struggle with house prices£250,000, which is more than 10 times the local average salaries.

The report revealed that in order to afford a typical mortgage in Yorkshire, one must earn at least £38,000 per annum. In Yorkshire, the least affordable area to live in is Harrogate, with the average price of a house being £276,700, which is more than 11 times higher than the average local salary of £24,730.

Closely following Harrogate as the second most expensive place to live in Yorkshire is Hambleton, with the average house costing £243,000 – more than 10 times more than the average local salary.

The National Housing Federation has said that despite the North East of England having some of the most affordable places to live in the United Kingdom, the average employee in the county still needs an additional £11,000 a year pay rise to afford a home of their own.

In the North East, the most expensive area to buy a property is Newcastle, with the average home costing £174,000.

The most affordable homes in the North East were found in County Durham, with the average home costing £127,100 – five times the average local salary. Over in Hartlepool, the average house price is £130,000.

External Affairs Manager for National Housing Federation members in the North East, Monica Burns, claimed that affordability of houses is still a problem. Burns said that unemployment was on the rise in the North East, which is further fuelling the issue.

Unemployment in Redcar stands at a rate of 9.4 per cent, which is above the national average of 6.2 per cent. However, in Middlesbrough, the average unemployment rate is 12.5 per cent.

Burns said of the issue: “It is against this backdrop that people in the North-East are struggling to afford the costs of keeping a roof over their heads and it’s not just those who are out of work.

“Working people aren’t earning enough to cover the cost of renting from the private sector without the help of housing benefit. In Newcastle, 18.2 per cent of housing benefit claimants are actually in employment.”

The situation for renting is similar, with people who rent a property from the private market also feeling the pinch. In Yorkshire, the average cost of renting is £535 per month.

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