20th
Sep 2014
The Lake District's Copeland has been found as the one last remaining local authority in England, that is termed as "easily affordable"
The term "easily affordable" is used when the average house price is less than three times the average annual salary.
A trade union's recent analysis says that Copeland is the only local authority that claim this distinction, whereas nearly 20 years ago one in five local authorities were classed as "easily affordable". In just 17 years, 72 "easily affordable" areas have been reduced to the one solitary authority left in England
One would believe that where the area is situated denotes house prices however Copeland is not the case. Its neighbours, South Lakeland, has an average house price eight times the local salary.
The research claims that there are no areas across London, the South East, South West and the East, where the average house prices were any less than five times the local average income.
In 1997 just 10 per cent of local authority areas were considered ‘out of reach’, as their house prices were more than five times the local salary. This figure has since rocketed to 84 per cent.
In the capital The Royal Borough of Kensington and Chelsea boasts an average house price of 30 times the local average salary.
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