THE LATEST figures from the National Housing Federation show a Bromsgrove resident on average earnings would need a 126 per cent pay rise to be able to afford a mortgage.
The statistics have been released as part of The 2017/18 West Midlands Home Truth report. It lists the cost of an average home in Bromsgrove as £299,400 – ten times the typical local salary, putting home ownership out of reach for many.
The report also reveals the average monthly private rent is £711 – the equivalent of 28 per cent of the average income.
It also shows 19 per cent of those on housing benefit are in work but are unable to afford their rent.
The report puts the reasons of the ‘growing crisis’ down to a housing shortfall, claiming 342 too few homes were built between 2012 and 2016.
Kate Warburton, External Affairs Manager for the National Housing Federation, said there had been a relentless rise in the gap between house prices and people’s salaries and Bromsgrove was no exception.
“Attaining a mortgage is increasingly unrealistic and private sector rents make saving up that bit more difficult.”
She added if the housing crisis was to end it was more important than ever for truly affordable homes to be delivered – more land needed to be unlocked and homes needed to be built faster.
Bromsgrove Labour Leader Coun Luke Mallett said housing provision had been a growing crisis for more than a decade, adding the council had failed to provide sufficient affordable homes and the much-needed infrastructure for developments.
“The past two decades have illustrated we cannot rely on big developers to provide affordable homes and we certainly cannot rely on Worcestershire County Council to fight for the transport and community infrastructure needed.”
“We don’t need more executive housing we need truly affordable housing.
“We need the council to urgently review the land it already holds and to invest in building affordable homes itself for local families rather than building through developers for Redditch and Birmingham.”
Bromsgrove MP Sajid Javid, who is also the Minsiter for Housing, said: “Tackling the housing crisis is the number one domestic priority of this Government.
“We delivered a record breaking number of homes last year and our Help to Buy schemes have helped over 350,000 people across the UK to buy a new home. There is clearly more to do.
“This is why we are changing rules on planning; meaning more homes will be built, more quickly, and in the places they’re needed most.”
