THE cost of buying your own home in the East Midlands increased by nearly three times the rate of an average salary over the past ten years – leaving thousands of people without a hope of ever getting on the housing ladder.
National Housing Federation research found that in 2001 the average price of a home in the East Midlands was £85,244, and the average salary was £14,971.
In the space of ten years the price of a home has rocketed to £160,997 – an increase of 89 per cent - whereas wages have risen just 31 perc ent to £19,661, making buying a home increasingly unaffordable for thousands of workers.
While, overall, the East Midlands has seen a 44 per cent increase in the gap between house prices and wages between 2001 and 2011, the 10 worst affected areas are:
Corby in Northamptonshire
Charnwood in Leicestershire
Gedling in Nottinghamshire
South Kesteven in Lincolnshire
Chesterfield in Derbyshire
High Peak in Derbyshire