Looking to buy a house in #Peterborough? You’ll need 7 x times ya salary!

Looking to buy a house in #Peterborough? You’ll need 7 x times ya salary!

Housing in Peterborough

It was recently announced that 15 housing associations will be working the Cambridgeshire and Peterborough Combined Authority to deliver up to 40,000 affordable homes over the next 20 years.

They claim they’ll be building at least 2,000 additional affordable homes by 2021.

A report, entitled Home Truths, that looked at housing in our region discovered:

  • The average house price in Peterborough in 2016, was £176,813.
  • The mean average monthly private sector rent in our city for 2015/162, was £581!
  • The mean average salary for Peterborough people in 2015, was £25,085.
  • The ratio of house prices to incomes in Peterborough was 7 x.
  • The income required for 80% mortgage in Peterborough for 2016, was £40,414.
  • The number of people with second homes in the city was 153.

The need for affordable housing in this area has never been greater.

17 years of Tory control of the City Council has seen council houses sold off, retracting on planning agreements for affordable housing and an overt reliance on housing associations or the private sector, to fulfil, what was previous the local authority’s responsibility.

Although, I guess for those councillors who are landlords, the housing crisis has been beneficial, enabling them to increase rental amounts?

In my opinion affordable, secure and comfortable accommodation is a basic human right. Those without accommodation and those forced through lack of choice into inadequate or unaffordable housing may lead diminished lives and can be excluded from playing their full part in society.


Don’t forget …….

If you have a view or opinion on this issue, to please share it, by posting a comment below!

Housing associations in Homes for Cambridgeshire and Peterborough:

Tories at the Town Hall, are ONLY now starting to realise what the rest of us have known for years!

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