The Times (Jill Sherman and Deirdre Howell) reports 10th May 2014: Families priced out of commuter belt Health is closely correlated to wealth. Should we pity these S.E. people for all the financial drivers in their lives, or should we commiserate because they have a long commute, less wildlife, and have to tolerate traffic jams daily? These are also the areas with most “born abroad”. If you are poor you get no choice (Wales), and live a shorter life, but if you are rich, or born abroad, you live longer and you do get choice! So much for equity…
Young middle-class families are being priced out of home ownership throughout much of southeast England, as they now have to earn about £60,000 a year to get a foot on the ladder.
A new analysis reveals the large gap between the salaries of young professionals and the amount they need to scrape together for a deposit and mortgage.
Research shows that even in outer London boroughs a first-time buyer needs a salary of up to £70,000 to afford a home, while in inner London a minimum salary of £100,000 is required.
It reveals for the first time how the housing boom is spreading into the commuter belt and southern university towns, where under-35s now need to earn at least £55,000 to get a toehold in the housing market.
This means that most single young professionals in the south are locked out of the property market until their 40s, or are force to rely on a gift or loan from their parents. In Guildford, Epsom, Windsor and St Albans they would have to be on salaries of £60,000, nearly twice average incomes in the area. In other parts of the south, such as Chichester, Horsham, Sevenoaks and Winchester, first-time buyers would need to earn £50,000…..
Life expectancy in the UK Posted on June 9, 2011 by James – Women on the left, men on the right