House Prices Nightmare 'has Already Hit Rural England

[Guest Charlie The Tramp]

Forecasts that house prices will hit 10 times the average salary by 2026 are already a reality in many rural areas, a watchdog warned today.

Dr Stuart Burgess, chairman of the Commission for Rural Communities, said: "For rural England, the housing nightmare predicted at last week's launch of the National Housing and Planning Advice Unit has already come true.

"In some parts of the country, especially the National Parks and other hotspots, prices have risen to as much as 13 times average local earnings.

House prices nightmare 'has already hit rural England'

[BoomBoom]

Seems this no longer represents a problem though. Banks will lend the money, and feckless morons will gladly borrow it. We'll see 20 times salary and well beyond before the whole house of cards collapses.

[Wad]

This statement is meaningless. Locals are not borrowing 13 x salary to buy in property hotspots such as Bakewell in Derbyshire. The money is all coming from retirees in the South East releasing London/South East equity by selling up and moving North. Its the same in Devon, Cornwall, North Yorkshire, Wye Valley... indeed, just about anywhere that has a high quality of life and beautiful scenery - its not young families that are driving these markets. Young families are forced to move to cities to make money which they hope thay will be able to bring back decades later to retire.

Edited June 13, 2007 by Wad

[Guest AuntJess]

This statement is meaningless. Locals are not borrowing 13 x salary to buy in property hotspots such as Bakewell in Derbyshire. The money is all coming from retirees in the South East releasing London/South East equity by selling up and moving North. Its the same in Devon, Cornwall, North Yorkshire, Wye Valley... indeed, just about anywhere that has a high quality of life and beautiful scenery - its not young families that are driving these markets. Young families are forced to move to cities to make money which they hope thay will be able to bring back decades later to retire.

Yes. I know of a couple of FTBs who hail from the SE who have gone North to Yorkshire to buy. Bit of a bugger when you have to live miles away from your family in order to afford a home.

This stuff about houses costing 13 x salary is crap. Who will do the jobs in these areas which fall in social classes C1 to D, huh? Oh right Gordy is going to have houses built - on the cheap. So any of these bods buying after 2007 will live in a council house will they, whilst working alongside people who bought a decent abode, before the rot set in?

As to the sharing idea. where do they keep their brains? How can anyone start a family in a pokey hovel which is shared?

They ought to make all MPs live in these conditions if they are so effing desirable.