THE BIG DI­VIDE

Prop­erty prices dwarf aver­age earn­ings in parts of Bucks

Buckinghamshire Advertiser - - FRONT PAGE - by KATY CLIFTON katy.clifton@trin­i­tymir­ror.com Twit­ter: @Katy_Clifton1

THE stark dif­fer­ence be­tween aver­age earn­ings and aver­age house prices in Bucks has been high­lighted by a new app.

As­pir­ing home­own­ers in the county are cur­rently faced with prop­er­ties cost­ing up to 17 times the aver­age earn­ings for some ar­eas ac­cord­ing to a new wid­get de­vel­oped by the Trin­ity Mir­ror data team.

Bea­cons­field, which has some of the least af­ford­able house prices in the county, has an aver­age house price of £699,500, which is 16 times the aver­age net house­hold in­come of £44,258.

The prices, ac­cord­ing to the wid­get, only in­crease in Ger­rards Cross; with the aver­age house­hold in­come at £50,223, the aver­age price for a house prices is 17 times higher at £870,000.

Che­sham is con­sid­er­ably cheaper, with an aver­age house price of £236,000 but still presents prob­lems as the aver­age house­hold in­come is £33,967 and lenders typ­i­cally of­fer 4.5 times the in­come at most. Sim­i­larly, Amer­sham is also more af­ford­able, with house prices at £388,500 but with the aver­age house­hold in­come at £44,363 this is still nine times higher.

Mor­gan Miller, 23, High Wy­combe, is look­ing to be­come first time home­owner in the nearby area but says it’s near im­pos­si­ble to find an af­ford­able home.

She said: “The houses I’ve been look­ing in the lo­cal area have all ex­ceeded my bud­get.”

Miss Miller added: “For a first-time home­owner, it’s al­most im­pos­si­ble to get on the prop­erty lad­der when you can rarely find an af­ford­able home – one that can be bought on a rel­a­tively low in­come.

“Peo­ple in my sit­u­a­tion are forced to rent or move away from the county – and it’s not hard to see why with the lack of af­ford­able houses nearby. ”

With the county’s house prices re­main­ing high, mil­lion-pound homes are fre­quently bought; last year, 425 homes were sold at £1mil­lion or more, in mainly South Bucks and the Chilterns.

Of those 425 lux­ury homes, 56 of them cost the Buck­ing­hamshire home­own­ers £2mil­lion or more – which is up from 51 in 2015.

To see the dif­fer­ence be­tween the aver­age house price and aver­age earn­ings in your area visit www.get­bucks.co.uk.

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