Essex House Prices Rise Five Times Quicker Than Salaries

A housing charity claims house prices in Essex have risen, on average, five times more quickly that salaries in the county since 2010.

Houses

Shelter says average prices here now stand at £221,000.

It also warns that by 2020 first time buyers in the county will have to earn £63,000 to be able to afford an average home.

Campbell Robb, Shelter's Chief Executive, said: "When house prices are increasing five times faster than the average wage, it's no wonder people on ordinary incomes are being locked out of a home of their own.

"With the situation only set to get worse, Generation Rent will be forced to resign themselves to a life in expensive, unstable private renting, and wave goodbye to their dreams of a home to put down roots in.

"It doesn't have to be like this. The Government has the power to turn our housing crisis around, but only if they stop with schemes like Starter Homes which only help higher earners, and start investing in homes that people on ordinary incomes can actually afford to live in."

Local News

Recently Played Tracks

On Radio: Early Breakfast with Jenni Falconer

4am - 6am

Email the show

Text 'HEART' to 82122

Early Breakfast with Jenni Falconer

On TV: More Music Variety

4am - 6am

Watch heart TV

Heart VIP

Local

Autumn Weather

Find your local four day weather report here.

Listening To Radio Win With Heart

Make Heart the soundtrack to your day and you could be a winner with great prizes up for grabs throughout the day.

Advertise Advertise in Essex

Get some great ideas on how to advertise your business on radio, online and on mobile.

Follow Heart on Twitter