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Housing shortage pushing property prices out of reach for local workers, report claims

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The housing shortage in Yorkshire and the Humber is pushing house prices and private rents out of reach for local workers, with the crisis set to get even worse by 2020.

The gloomy prediction comes from a report by the National Housing Federation which reveals:

• Private rental costs in Yorkshire and the Humber are predicted to rise 50% by 2021.

• Less than half (47%) of the number of new homes needed in Yorkshire and the Humber are currently being built

• A gross annual income of £35,896 is needed for the average mortgage in the region.

• The average home here costs eight times the average income,

Daniel Klemm, Yorkshire and the Humber external affairs manager for the National Housing Federation, said: “High house prices, rising rents and stagnant wages in Yorkshire and the Humber are not only making life extremely difficult for people living and working in the region, but they are also affecting employers and businesses and risk holding back economic growth. Young workers in the region are becoming a generation of renters, unable to get on the housing ladder and faced with continually rising rents.

“We need Local Enterprise Partnerships to work with local councils, housing associations and others to take a strategic lead on getting more homes built at the right price in the right places, which will help revitalise communities and create jobs.

“Local people also have an important role to play. Those who want more housing in Yorkshire and the Humber need to contact local councillors and say ‘Yes to Homes’.

“With more support, housing associations across Yorkshire and the Humber can be real catalysts for change for local communities. They are in it for the long term and can actively drive forward a balanced economic recovery.”

To see the full report, visit www.housing.org.uk

 

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