Price of a House 10 Times a Wage ; Ownership an Impossible Dream for Many
The Journal › November 13, 2006
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Summary
FIRST-TIME buyers in parts of the North-East need to raise a mortgage more than 10 times their salaries if they want to stay in their area, new figures have revealed.
The statistics reveal the region's hot spots where rising house prices are not reflected by wages locally, which are relatively low.See the full content of this document
Extract
Price of a House 10 Times a Wage ; Ownership an Impossible Dream for Many
The worst situation faces would-be homeowners in Berwick, where 90% of lower income residents live in areas where house prices are 10 times their annual pay....
See the full content of this document
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