Rising house prices are causing desertion of villages

Posted under General by Alan

The ever increasing gap in the local income and property prices is driving young couples to cities for buying a home.  According to a report from National Housing Federation the average cost of a family house in South Buckinghamshire, is 24 times more than the average local wage at £525,000. A crash of even 35 per cent in the property price would bring the price to a level which will be 16 times more than the average local income. The findings of the National Housing Federation would be backed by Liberal Democrat MP, Mathew Taylor, who was asked by Gordon Brown to submit report on rural housing. Taylor, who is likely to recommend restriction on purchase of second homes by the weekenders, believes that migration of city dwellers in large numbers to the country is causing phenomenal price rise. 800,000 Britons are moving out of cities for good peaceful life, on account of easy commuting and availability of broadband in the villages. This is pushing up prices of property and likely to result in reverse migration of locals from villages. According to Taylor, developments in villages are restricted to retain the green fields in coming 20 years. But the very people who can sustain these villages are migrating due to unaffordable living on account of very low income. He is likely to recommend that councils should grant permission for construction of affordable homes in villages which could be sold only to locals, with a cap on price.

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