[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 17 August 2006, 13:42 GMT 14:42 UK
Dorset town is least affordable
Sandbanks, Poole, Dorset
Sandbanks is one of the most expensive places to live in the UK
Poole in Dorset is the most unaffordable town in the UK, a new report has indicated.

House prices in Poole are 12.4 times the area's average annual wage according to a survey by the National Housing Federation.

The report, which examined local, unitary and district authorities in south west England, claims the region is facing a housing time bomb.

It also claims Bath, is the South's second most unaffordable town.

Derek Cash, head of the federation's south region said: "Unless some drastic action is taken, the outlook is only going to get much worse."

Exclusive Sandbanks

The average house price in Poole is 251,588 while the average wage is 20,311.

The report claims that to get a mortgage there you would need to earn more than 68,000 a year.

The average price of property in the area is boosted by the exclusive Sandbanks peninsula, where house prices average 500,000 and recently one luxury waterfront home sold for nearly 10m.

Poole estate agent Alistair Brown, said: "Poole is a popular place but generally incomes have been low.

"There's a big retirement and big second home element here. Lots of people want to be near the beach with sea views."


SEE ALSO
House prices still accelerating
15 Aug 06 |  Business
House prices show sharp increase
04 May 06 |  Business
House prices near 200,000 mark
07 Aug 06 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific