Friday, 18th May 2012

What fist-time buyers have to earn

First-time buyers living in villages north of Shrewsbury must earn around £27,000 to make it on to the property ladder, it has been revealed.

A report by North Shropshire District Council on various policy issues for the future of the district has revealed that a single person has to earn £27,100 while those on a joint income need £34,600 to own their own home.

The information was due to be considered last night as part of a policy and local development framework scrutiny committee meeting which was also looking at issues such as the economy and mitigating flood risk.

The figures have been met with dismay by Simon Jones, district councillor for Shawbury, who said many people who wanted to live in the village couldn’t afford to do so.

The report stated: “Many new residents are well paid out-commuters better able to compete in the local housing market and this has had an inflationary effect on prices. 

“This is compounded by imbalances in the local housing stock which is overly dominated by larger (four bed plus) housing.

“Furthermore the delivery of affordable housing, whether social rented or intermediate stock, has lagged far behind need.”

The news of what home-buyers must earn if they are to get into the housing market has led to calls from councillors for more social housing to be built.

Councillor Jones said: “House prices have gone up everywhere but the available income hasn’t gone up with them which is why it’s one of the priorities of NDSC because for first time buyers it’s out of a lot of people’s reach.

“There is always a need in Shawbury as people from the village would like to stay in the area but can’t.”

Property on page 23 of Shrewsbury Chronicle and North Shropshire Chronicle on sale now.