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Salaries not keeping pace with house prices

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 10:59, 07 October 2012

Individually designed homes at Whitstable

Salaries now have to stretch way beyond most people's budgets in order to get a foot on the property ladder in our part of Kent.

New figures from the National Housing Federation indicate that the average price of properties in the borough of Maidstone last year was £224,987 - 11.7 times the average take-home wage in Maidstone of £19,230.

But it could be worse. Those wanting to buy in Tonbridge and Malling can expect to pay an average of £294,471. Although people there have a higher average income - £21,018 - it still means they must find 14 times their salary to pay for a home.

Sevenoaks tops the table for the biggest gap between wages and house prices.

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House hunters there take earn less tan £18,819 according to the federation, but can expect to pay on average £401,975 for a home. That's 21.4 times their income.

More information from www.housing.org.uk

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