Report shows housing crisis worsening
The need for affordable homes across Northamptonshire is more urgent than ever before according to a new report which shows that average house prices are 8.5 times higher than the average salary.
The National Housing Federation’s East Midlands Home Truths 2017/18 report reveals the extent of the housing crisis, with a shortfall of 24,760 affordable homes across the county.
Parts of Northamptonshire are some of the most expensive areas to buy a home in the East Midlands. While the average home costs around 7.7 times the average salary in the East Midlands, Northamptonshire sees an even wider gap between average earnings and the cost of buying a home.
In Daventry, the average home costs 10.2 times the average salary, and in South Northamptonshire the figure rises further still to 10.4, with the gaps getting larger every year.
Craig Felts, Company Secretary of Northamptonshire Rural Housing Association, said: “We know there is a housing crisis in Northamptonshire and the latest Home Truths report shows that it is getting worse.
“We’re currently developing around 36 much needed affordable homes in four Northamptonshire villages with the aim of enabling local people to afford to continue living in their communities.”