Young people in the East of England struggle to buy a first home

BBC News

6 days ago

The government wants 1.5 million new homes to be built in England by 2029 but, with the average house in the East costing £332,000, about nine times the average salary, what chance do young people have of getting on the housing ladder?Lauren Finch, 29, told BBC Politics East a mortgage broker advised her to ask for a pay rise, get a new job or find a partner to move in with.Living with her 28-year-old sister at her parent's home in Lowestoft, Suffolk, she often finds herself house-sitting for friends as a way to get some independence.She said her £24,000 salary at a GP surgery meant she could only afford a £90,000 home and would struggle to find a property in the area where she would feel safe."I feel frustrated that I'm at this age and living at home and it is a little bit soul-destroying," she explained.Renting is an option she hopes to avoid: "People I know who rent, struggle to save any money for a (mortgage) deposit."
Former Miss Cromer Charlotte Spendlove rents a room in a friend's house and said she received similar advice on getting on the housing ladder."They tell you you have to do x, y and z. They've said I need to get an extra job. At one time I had three jobs. But it's not a way of life," she said.The 26-year-old believes people with second homes are driving up house prices and wants the government to look into the issue.The Ministry of Housing, Communities and Local Government said it inherited a "devastating housing crisis" and was providing support for first-time buyers.
Average house prices vary across the East of England, according to the Office for National Statistics:Cambridge: £521,000Colchester: £302,000Northampton: £258,000Norwich: £232,000Ipswich: £228,000The average annual rent in the East of England is approximately £15,660, based on an average monthly rent of £1,305, a 4.2% increase on the previous year.
Environmentalist and archaeologist Helen Geake, a former Green councillor from Suffolk, said: "We have a surplus of homes but they are being used in the wrong way, being used for second homes, or short-term lets, or empty."Also, private rentals are a very inefficient use of a house. We have got to see more homes with owner-occupiers and socially rented."James Palmer, chair of regional business champion the Eastern Powerhouse, has called for better infrastructure to be built to support new housing.Speaking at a BBC Politics East special at the Big Sky Living development at Cringleford, on the outskirts of Norwich, he said: "The public transport in the East is appalling."We need a long-term infrastructure plan to then deliver the homes."
A Ministry of Housing, Communities and Local Government spokeswoman said: "We have inherited a devastating housing crisis."As set out in our plan for change, we will build 1.5 million new homes and give working people the stability and security of a home they deserve."We're committed to supporting first-time buyers with a new permanent mortgage guarantee scheme, helping them take their first crucial step on the ladder with a small deposit."
BBC Politics East will be broadcast on Sunday, 22 June at 10:00 BST on BBC One in the East of England, and will be available after broadcast on BBC iPlayer.