Page last updated at 12:29 GMT, Tuesday, 27 October 2009

Houses cost 12 times annual wage

For sale signs
House prices in Cornwall are 12 times the annual local wage

Average house prices in Cornwall are now 12 times the amount of the annual local wage, according to the National Housing Federation (NHF).

The average house price in Cornwall is £205,000 while wages are £15,500.

The report by the NHF also revealed that 18,000 families are now on a waiting list for social housing.

NHF, with the support of local MP's, is launching South West Home Truths to make the government more aware of the housing situation.

Andy Moore, from the NHF and chief executive of Penwith Housing Association, said: "Once you're above four times (the annual wage), it's very difficult for local people to get onto the housing ladder.

"A lot of work has been going on locally to improve the situation, and the number of affordable homes in Cornwall have increased, but there's not enough to meet the growing need."

Isles of Scilly

Gavin Dunn, from Falmouth, who earns £22,000 annually, said: "It wouldn't matter if we could put down a deposit, we couldn't afford a mortgage at the current rates.

"There's such an expanse between what you earn and what you can afford to buy it's impossible. Everyone would like their own home. It would give you something to work for for all those years."

The report also revealed that the Isles of Scilly had the highest number of second homes in the country, amounting to 18% of the properties.

The chief executive of Devon and Cornwall Housing Group, Teresa Butchers, said: "These figures show the scale of the problem. Behind the statistics are real families, in real need of homes."

"Housing associations are continuing to build homes to meet this crisis, and we need to carry on this work urgently."

Local MP's will officially launch South West Home Truths in Westminster on Tuesday.

The federation is calling for more public investment to support the building of social housing.

It would also like to see public land being made available to affordable housing providers at discounted rates and nationalised banks being compelled to make funds available for shared ownership.



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SEE ALSO
Truro house prices top 300,000
23 Apr 07 |  Cornwall
South West housing 'unaffordable'
29 Jun 04 |  England

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