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Mar 04 2014

Gareth Says: Harrow Residents Need to Earn an Extrat £41k to Keep Pace with House Prices

gareth_thomas_headshotGareth Thomas MP has noted, in his February newsletter, that rising house prices in the borough are meaning many people’s dreams of owning their own home are getting further and further out of reach.

He writes:

New research by housing charity Shelter has revealed that for average wages in Harrow to be keeping pace with average local house prices, single households would have to be earning an extra £41,000 a year. For couples with children, the figure is an extra £81,000.
 
This clearly puts home ownership even further out of reach for an increasing number of residents in Harrow. Many families are being forced to rent, perhaps in unstable short-term private lets. Young people aged 20-34 are particularly struggling to get on to the housing ladder, with an estimated 3.3 million still living with their parents – an increase of 25% since 1996.

No suggestion of how he’ll tackle it…

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1 comment

  1. PraxisReform

    It seems that Mr Thomas is catching up with some of the things that I posted on iHarrow last year… Perhaps by the time the General election comes around, he’ll be looking at the scandal of Employers serially ripping off their workers when they put businesses into administration.

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