Average Thurrock house price ten times a typical salary
A worker on average earnings in Thurrock now needs a 119 per cent pay rise to afford a mortgage, reveals a new report from the National Housing Federation.
The East of England Home Truths 2017/18 report reveals the average home now costs around £275,292 in the Thurrock local authority, which is 10 times the local typical salary, making home ownership impossible for many.
The housing association sector is also working to battle the capital’s housing crisis, completing nearly 9,000 new homes during 2016/17 and starting a further 13,585.
House hunter Katy Thompson, Thurrock resident and single mum, said: “I have been having problems with my neighbours and my kids are suffering in school from the issues, but it doesn’t matter to the council.
“They are so inundated with people trying to move and find housing; social housing in Thurrock takes ages, I was told you had to live in the area for five years before you were even considered to go on the council housing list.
“I have friend with five children and they live in a two bed, top floor flat. She has been trying to move to a bigger property for five years now. She is on the waiting list but families with medical issues are ahead of her. The lack of housing in this area is the main problem.”
Also revealed in the report; the cost of renting privately has added pressure on people’s income. Average monthly rents now stand at £903 swallowing up around 38 per cent of private renters’ income.
A significant number- 27 per cent – of housing benefit recipients are in work, yet are still unable to afford their rent. This is higher than the England average. This shows rents across the region are increasingly unaffordable.
The reason for the growing crisis is down to a large shortfall of new housing. Between 2012 and 2016, around 2047 too few homes were built in Thurrock.
Sarah Finnegan, External Affairs Manager for the National Housing Federation, said: “The housing market has seen a relentless rise in the gap between house prices and people’s salaries. Thurrock is no exception. Attaining a mortgage is increasingly unrealistic and private sector rents make saving up that bit more difficult.
“As this year’s Home Truths report shows, it is more important than ever for the sector to be able to deliver homes that are truly affordable. If we want to get serious about ending the housing crisis, we need to start looking at unlocking more land so we can build homes faster.”
Just before Christmas the Commons public accounts committee called the government’s response to the housing crisis an “abject failure”. With over 9,000 people sleeping rough on the streets and more than 78,000 households – including 120,000 children living in temporary accommodation, the committee called the government’s response “unacceptable”.