A worker on average earnings in Calderdale now needs a 46% pay rise to afford a mortgage, according to a new report from the National Housing Federation.
The Yorkshire and Humber Home Truths 2017/18 report reveals the average home now costs around £160,947 in Calderdale, which is six times the local typical salary.
The report also reveals:
• . Average monthly rents now stand at £514 swallowing up around 25% of private renters’ income.
• A significant number (18%) of Housing Benefit recipients are in work, yet are still unable to afford their rent. This is lower than the England average.
Sharon Squires, External Affairs Manager for the National Housing Federation, said: 'The housing market has seen a relentless rise in the gap between house prices and people’s salaries. Calderdale is no exception. Attaining a mortgage is increasingly unrealistic and private sector rents make saving up that bit more difficult.
'As this year’s Home Truths report shows, it is more important than ever for the sector to be able to deliver homes that are truly affordable. If we want to get serious about ending the housing crisis, we need to start looking at unlocking more land so we can build homes faster.'
The National Housing Federation is the voice of affordable housing in England.