Single house buyers need to earn £43,000

A single person would need to earn £43,000 a year to buy an average-priced house in the West Midlands countryside, a new study has revealed.

Research from the National Housing Federation reveals the average cost of a home in the region is more than 7.5 times the average income, which is considered to be beyond the reach of most people's pockets.

But in some of the more desirable parts of the West Midlands, this figure rises to 10 times the average income.

The NHF research coincides with a report by the Commission for Rural Communities which suggests the cost of rural housing in most of England is sharply higher than property in urban areas.

The report, entitled State of the Countryside, confirms the rural population is both older and ageing faster than the

urban one. And it quotes an average rural house price of £240,222 - 22.1 per cent higher than the average urban one of £196,700 in 2006.

Gina King, head of region for the National Housing Federation, said: "It is sad to note that soaring property prices coupled with a chronic affordable housing shortage are forcing young people to move away from rural areas instead of staying in the communities where they grew up.

"House price inflation has produced increased wealth for many older residents and has undoubtedly helped drive improvements in the local economy, but for local people looking to buy their first home, or on middle incomes the situation has become dire. Many people are stranded between not being able to afford to buy or rent in these largely expensive markets."

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