“In East Devon, the ratio of house prices to incomes is 11.2, with the average salary of £22,870 dwarfed by the average house price of £256,312. …
… In rural and coastal areas, the situation is even worse. With beauty spots commanding premium house prices and attracting wealthy second home owners, spiralling prices are forcing young people to move elsewhere.
… As more people in the region are priced out of buying a home, the number of private renters is increasing. As well as having short-term contracts that offer little stability, private renters in the South West are spending over a third (35 per cent) of their earnings on rent – the third highest rent-to-income ratio in the country.”
So, just remind us: who are we building these houses for: local people on low wages, people from outside the area with lots of money, or buy-to-let landlords cashing in?
East Devon Watch 