Tuesday, October 23, 2007
Laugh, cry, sit on the sidelines and pick your moment…?
People in one part of the UK already face house prices of 16 times their income, with a further five areas having house prices at 10 times income or more - a level not predicted to be the average across the country until 2026. The figures are revealed in the CACI Housing Affordability Index, and come at a time when the Government is concluding its consultation on the UK's future housing needs in its Housing Green Paper. If the Government were to choose to increase housing supply in areas where houses are least affordable, the CACI Index highlights those areas in need of most urgent release of land for residential development.