Charity Claim No Houses In Cambridge Affordable For First Time Buyers
29 April 2015, 06:43
Over 90% of homes on sale in the East of England are unaffordable for first time buying families - with none affordable in Cambridge.
In the East of England, over 90% of properties on the market aren't affordable for families looking to buy their first home, according to new research published by Shelter today.
The housing charity analysed asking prices for thousands of properties for sale throughout the region, and compared them with the mortgage that an average family buying their first home could afford.
Exposing the depth of the region's housing shortage, the research revealed that only 8% of homes for sale in the East of England are affordable for families that need at least two bedrooms, and only 2% are affordable for larger families looking for homes with three bedrooms or more.
Shelter identified 12 hotspots in the region where there is no affordable housing whatsoever, these areas included Cambridge, Brentwood, Stevenage and Watford.
The percentages of affordable homes for first time buyers across Cambridgeshire, according to Shelter, look like this:
-South Cambridgeshire 4.40%
-East Cambridgeshire 8.00%