28 Jan

Eco towns court bid fails

Eco towns court bid fails

The greatest housing affordability in the UK is to be found in parts of northern and central England, new research has indicated.

A study by the GMB union has found that three of the 11 UK regions have an average house price that is classed as affordable, which means it does not exceed 4.5 times the regional average income.

These areas are the north-east at 4.5 times the average, along with the north-west and the east Midlands, which are both at 4.4 per cent.

Such regions may be more favourable areas for first-time buyers keen to get on the housing ladder.

Those investing in buy-to-let may be keener on areas where affordability is weaker and there may be more demand for rental accommodation as a result, such as London where the cost of homes is 7.2 times the mean salary.

Last week chief executive of the Town and Country Planning Association Gideon Amos said eco-towns could help increase the supply of affordable new homes.
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