Average earners have been priced out of the housing market in many areas of
the country, according to a new survey.
New figures show that in 120 out of 171 counties and unitary authorities,
purchasing a home is beyond an average man's wage.
Only seven authorities were within the reach of women.
Even sharing the responsibility of buying a home with a partner is
unaffordable for many people on average earnings - out of reach in 59 out of
171 English and Welsh counties, according to the journal Labour Research.
Priced-out
While high prices rises are good news for property owners, the report
illustrates the housing crisis affecting key workers, such as teachers and
nurses.
The figures were calculated by comparing average salaries and average
house prices by area, and assumed a 5% deposit and two workers on average
earnings purchasing together.
Outside London and the South East the worst area in which to buy a home -
for two people on average earnings - is Bath and North East Somerset, where
house prices average £161,863 and salaries average just £21,732 a year.
A similar pair in Oxfordshire would be £40,457 short of the required
funds while on in Rutland in the East Midlands would have a £37,509
shortfall.
In Windsor and Maidenhead, for example, the average wage is higher than in
many areas of the country at £27,634, but with an average house price
costing £250,556, even two people earning average incomes would £99,859
short..
Fare worse
The survey focused on a range of key workers, such as teachers, local
government staff, childcare staff, nurses, along with other health and
ambulance workers.
While in many areas all these key workers are priced-out of the market,
there are wide variations.
In Poole in Dorset, for example, the average wage is £22,300 and the
average home £143,588.
A secondary teacher would be just £2,433 short.
But childcare staff would be £86,450 short to buy a home.
Labour Research said: "The situation is indeed dire for lower-paid
workers across the country."