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New study shows worrying increase in house prices throughout West Yorkshire.
The cost of buying your own home in West Yorkshire increased by more than three times the rate of an average salary over the past ten years, according to new research.
National Housing Federation research found that in 2001 the average price of a home in our region was £72,497, and the average salary was £15,246.
In the space of ten years the price of a home has rocketed to £149,574 – an increase of 106% - whereas wages have risen just 32% to £20,116. They say it makes buying a home increasingly unaffordable for thousands of workers.
Overall West Yorkshire has seen a 56% increase in the gap between house prices and wages between 2001 and 2011.
Derek Long, assistant director for the North for the National Housing Federation, said: "These shocking figures show that it is getting increasingly hard for thousands of people in West Yorkshire to buy a home of their own in the current climate.
"With the gap between income and house prices having widened so substantially over the past decade, home ownership continues to be out of reach for ordinary families, and looks set to continue to be so for the foreseeable future.
"A shortage of homes means the price to buy them is being pushed ever higher by the market, and out of reach of thousands of hard working families. Unless we start building more homes people can truly afford to match the demand, this will only get worse."
A break down of the survey is as follows:
1.Calderdale:House prices up by 113% (from £65,397 to £139,473) where wages have increased by 16%, meaning the gap between house prices and wages has risen 84% between 2001 and 2011
2.Kirklees: House prices up by 111% (from £68,296 to £143,795) where wages have increased by 22%, meaning the gap between house prices and wages has risen 72% between 2001 and 2011.
3.Bradford:House prices up by 114% (from £66,393 to £142,041) where wages have increased by 32%, meaning the gap between house prices and wages has risen 62% between 2001 and 2011.
4.Wakefield:House prices up by 100% (from £66,180 to £132,598) where wages have increased by 25%, meaning the gap between house prices and wages has risen 60% between 2001 and 2011.
5.Leeds:House prices up by 98% (from £83,803 to £166,035) where wages have increased by 41%, meaning the gap between house prices and wages has risen 41% between 2001 and 2011.
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