HOUSE PRICES ARE RISING MORE THAN WAGES

Houseprices in the UK continue to rise, much more than wages even, in vast areas of England. According to Labour, millions of young people risk experiencing very serious difficulties with regards to their main home. A new analysis from The Independent found that in 40% of the country, the average annual growth in residential property prices last year, exceeded the average total wage.

Opinion of public housing spokeswoman, Lucy Powell Social housing spokeswoman, Lucy Powell, said that data proves that the link between hard work and a stable home has been severed, despite 11 years of government claiming to support home ownership. Powell argues that the disparity is denying huge numbers of people the opportunity to settle down, raise a family and build a career in the area they grew up in.

Some data on the gap between house prices and wages.While the widest gaps were observed in affluent areas - for example, in Elmbridge, in Surrey where the rise in house prices was nearly four times the local average wage - property prices in more popular areas, also rose more than the level of the average salary. This phenomenon was particularly visible in rural and coastal areas, where the local population competes with second home buyers.