25 Jul

Gwynedd public 'face housing worries'

Gwynedd public 'face housing worries'

People in one area of Wales are finding it difficult to get on the property ladder because of rising living costs, it has been suggested.

Gwynedd council stated that house prices in rural parts of the county are higher than they are in other areas and this is having a negative impact, reports the BBC.

In 2005, it said, a house there cost eight times the average persons salary, while in 2006 Abersoch property prices were £380,000 on average, 15 times more than the average wage packet.

"Housing prices, all in all, are higher in the rural areas and in small villages," the report suggested.

The higher prices are being seen in both rented and mortgaged homes, the council highlighted. It specifically stated that first-time buyers are facing tough times.

A recent report from the British Bankers' Association showed that mortgage approvals dipped by 23 per cent in June. It remarked that approval levels this year will be the lowest since the recession in the 90s.ADNFCR-1222-ID-18702651-ADNFCR

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