Housing in Devon and Cornwall least affordable in the country
A report from Halifax Estate Agents released today (Saturday) shows that six in ten of the rural areas with the least affordable housing in the country are in Devon and Cornwall.
The eight Liberal Democrat MPs for the area say the research shows that falling house prices have not helped first time buyers, who have been hit by rising mortgage costs and increased deposit requirements.
North Devon is shown to be the least affordable District in Great Britain, with East Devon and Teignbridge just behind. Over the Tamar, Kerrier, Penwith and North Cornwall all make it into the top ten.
Commenting, North Devon’s MP, Nick Harvey said:
“These figures will come as no surprise to people struggling to get on the property ladder in our area.
“People who’ve grown up here are finding it’s simply impossible to stay, and all Gordon Brown has to offer so far are sticking plaster solutions.
“Halifax shows the average house price in North Devon as £252,792. What striking proof that a stamp duty ‘holiday’ on purchases below £175,000 is simply not an adequate answer to our rural housing crisis.”
North Cornwall’s MP, Dan Rogerson, added:
“The Halifax figures show us only the tip of the iceberg.
“They rate average earnings in North Cornwall at £26,157. Anyone who lives here knows that a typical wage in our area is nothing like as high.
“Since vast swathes of Cornwall’s social housing stock was sold off under the Conservatives, and successive governments of both colours have failed to control the growth of second homes, the housing market remains way out of reach for most local people.
“We need more Community Land Trusts that ensure housing is affordable and ring-fenced for local people. A stake can then be retained by the Trust to make sure its housing continues to be affordable and available when the first occupants move on.
“Instead of posturing about stamp duty, the Government now needs to take real action to provide more affordable homes, and it’s time to crack down on the proliferation of second homes in rural areas.”
This autumn the Government is due to respond to the report on rural affordable housing commissioned by the Prime Minister from local long serving Lib Dem MP Matthew Taylor.
The 200 page report made 48 detailed recommendations, which have been welcomed by a wide range of organisations from the National Housing Federation to the Campaign to Protect Rural England, to Shelter and the Country Landowners Association. Ministers have already welcomed the report.
Commenting Truro & St Austell MP, Matthew Taylor, said:
“These latest figures show that the housing recession is not helping low income families in popular rural areas like ours – in fact, affordability has got worse. We urgently need positive action from Government on the report’s recommendations, so local young people can find a home in their community that they can afford.”
