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Burton and South Derbyshire: Average cost of a house 'out of reach' for people on an average salary

By Burton Mail  |  Posted: September 02, 2014

By Steve Ashby

House for sale signs, letters page pic

House for sale signs, letters page pic

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PEOPLE looking to buy a new home in Burton will be disappointed to know that the area's houses have been deemed 'out of reach'.

The claim comes following statistics which show that homes across the whole of the West Midlands – excluding Copeland in the Peak District – cost more than five times the average annual salary.

The figures mean that many hopeful buyers will struggle to set aside enough money to pay for a home.

TUC General Secretary Frances O'Grady said: "The toxic combination of rising property prices and falling real wages has meant that local housing affordability remains a huge problem for millions of people across the country.

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"Houses and flats in traditionally affordable areas of the country are now out of reach for many local people.

"We need an ambitious programme of home-building to get house prices back under control. "

Liz Milsom, director of Liz Milsom Properties in Swadlincote, disagreed with the claim that housing prices had become unaffordable in the area.

She said: "If houses are so unaffordable then there would be no buyers, and that isn't the case.

"There's a lot of hype that there's a 'lack of supply' and that the market has gone stagnant, but it isn't true."

"Our stock levels have never been so low and that is because we are successfully selling properties."

Referring to first-time buyers, Mrs Milsom said: "First-time buyers have to really do their homework if they want to get given a mortgage.

"They need substantial deposits of at least five or 10 per cent and a very good credit record."

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