Braintree district: Cost of buying a home rises more than 80% in ten years (From Braintree and Witham Times)
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Braintree district: Cost of buying a home rises more than 80% in ten years
9:00am Monday 27th August 2012 in News
The cost of buying a home in Braintree district has risen more than 80 per cent in ten years.
But wages have only risen 38 per cent in the same time.
Braintree district ranked 13th out of 14 council areas in Essex for the gap between average house prices and wages, according to new research by the National Housing Federation (NHF).
Last year, house prices had leapt to £220,644, but salaries had only gone up to £20,124.
And with banks tightening their lending, buyers needed a deposit of £55,161 for a 75 per cent mortgage.
Full story in this week's paper.