Events across the weekend to celebrate the work of our Armed Forces
First Time Buyers Need Salary Of £66,000
It's claimed first-time buyers in Herts, Beds, Bucks and Northants will need to be earning up to £66,000 a year to afford an average home by 2020.
Shelter say that's for the South East region including Milton Keynes, whilst in Herts, Beds and Bucks it's £63,000.
It's a better picture in Northants though - where buyers need a salary of £44,000.
The research looked at the salary and deposit needed for the average first time buyer today, and calculated what they would be in 2020 if they grew in line with projected increases in house prices.
These figures come as no surprise given that, over the last five years, the region’s severe housing shortage has seen house prices rise five times faster than wages.
As the Government’s Housing Bill passes through the House of Lords, Shelter is warning that, unless the government commits to building homes that people on ordinary incomes can actually afford, the situation is only likely to get worse.
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.”
Barry Walker Began Abusing His Victim When She Was Just 7
Police Pay Tribute To Bletchley Community Officer
Great Get Together Comes Together For Jo Cox Across The East
Recently Played Tracks
To listen live, choose your preferred station:
Now playing: The best feel good music
Deposit £10 to get a £40 Welcome Bonus - That's £50 to play bingo, slots and more!*
Over 50 tracks to make you feel-good. New album out now...
Find your local four day weather report here.
Make Heart the soundtrack to your day and you could be a winner with great prizes up for grabs throughout the day.