House prices in Kirklees now FIVE TIMES annual salary says new survey

It is reported that the ratio of house price to earnings is now 5.30 in Kirklees, compared to 2.95 in 1997 - find out the cheapest and most expensive streets in our area

The study showed that in 1997 around in one in five local authority areas had housing regarded as “easily affordable”

House hunters across West Yorkshire are being priced out of the market.

People living in Huddersfield will now have to find more than FIVE TIMES their salary to get on the property market.

It is reported that the ratio of house price to earnings is now 5.30 in Kirklees, compared to 2.95 in 1997.

It is only slightly better in Calderdale, where the figure has risen from 2.76 to 4.66.

Click below to see a gallery of Kirklees' most expensive (and cheapest) streets last year - and read the full story here.

 

The figures are in a shock survey out today which shows the number of local authority areas across the UK where the average house price is less than three times the average annual salary has fallen from 72 to just one over the past 16 years.

Research by the TUC showed that Copeland in the Lake District was the last local authority area left in Britain where average house prices were less than three times the average annual salary.

The study showed that in 1997 around in one in five local authority areas had housing regarded as “easily affordable”.

The union organisation said its research showed there Hull is the only area left in Yorkshire where house prices are still less than four times the average local salary, according to new analysis published today by the TUC. It shows that homes in many parts of the region are now out of reach for local people.

The TUC analysis of average (median) salaries and house prices by local authority area shows that in 1997 the average house price in most local authority areas across the region was less than four times the average salary.

Half of all local authority areas were ‘easily affordable’ in 1997 – with a house price to local wage ratio of less than three. No area had a ratio above five – a level which the TUC believes can put home ownership out of reach for local people particularly if they only have one salary.

However, there are no longer any areas of Yorkshire and Humber that are ‘easily affordable’. Kingston upon Hull is the only area left where house prices are less than four times the average local salary. Even previously affordable areas, such as Bradford and Rotherham, are now out of reach for many local people with house prices at least five times the average wage.

Click below to see a gallery of Calderdale's most expensive (and cheapest) streets last year - and read the full story here.

 

TUC general secretary Frances O’Grady said: “London always comes out top when it comes to horror stories about ludicrously over-priced housing.

“But the toxic combination of rising property prices and falling real wages has meant that local housing affordability remains a huge problem for millions of people across the country.

“Houses and flats in traditionally affordable areas of the country - from Kirklees to Great Yarmouth and Plymouth to Oldham - are now out of reach for many local people.

“We need an ambitious programme of home-building to get house prices back under control”.

 
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