East homes 'still cost 11-times salary'

LOW incomes, poor job security, more repossessions and the continuing mortgage credit crunch mean the housing market is no more affordable or sustainable now than in the boom. That s according to research from the National Housing Federation, which also

LOW incomes, poor job security, more repossessions and the continuing mortgage credit crunch mean the housing market is no more affordable or sustainable now than in the boom.

That's according to research from the National Housing Federation, which also says the average East of England house price of �225,967 still costs around 11 times the average salary, despite the downturn.

Claire Astbury, regional manager for the East of England, said: "With unemployment up by a third, house prices still high by past standards, affordable mortgages hard to come by, private rents 75 per cent higher than social rents and national repossessions rising, social housing is a great alternative for many people in the East.


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