Affordable housing leaves property ownership a ‘distant dream’ for young families in east of England - what can be done?
- Credit: Archant
Affordable housing shortages have left young families on average wages in Suffolk and Essex facing more than a decade of hard saving before taking their first step on the property ladder, a charity has claimed.
Research for the housing charity Shelter showed that a young couple with a child would have to save for 13 years before they could afford their first home in the region.
Childless couples face seven years of saving, which Shelter says leaves many having to decide between starting a family or owning property. And single people face a wait of twice that – nearly 14 years until they can afford to buy.
The news comes as the High Court is set to decide on two major planning applications, which could shape the future of housing in Suffolk Coastal.
Take a look at our two page feature on the problems facing housing by clicking on the link.