28
Jan
Eco towns court bid fails
The greatest housing affordability in the UK is to be found in
parts of northern and central England, new research has
indicated.
A study by the GMB union has found that three of the 11 UK regions
have an average house price that is classed as affordable, which
means it does not exceed 4.5 times the regional average
income.
These areas are the north-east at 4.5 times the average, along with
the north-west and the east Midlands, which are both at 4.4 per
cent.
Such regions may be more favourable areas for first-time buyers
keen to get on the housing ladder.
Those investing in buy-to-let may be keener on areas where
affordability is weaker and there may be more demand for rental
accommodation as a result, such as London where the cost of homes
is 7.2 times the mean salary.
Last week chief executive of the Town and Country Planning
Association Gideon Amos said eco-towns could help increase the
supply of affordable new homes.
