Press Release

Home truths – the real cost of housing in Sedgemoor and Taunton Deane!

Bridgwater based housing association SHAL Housing has today commented on research showing the affordability crisis in the South West.

The National Housing Federation has published figures showing how difficult it now is for people in the south west to buy a home of their own. House prices in the south west have grown nearly five times faster than incomes since 1997. The average house price in the south west in 2006 was £210,541, 2% above the national average. The average income was £17,898, 7% below the national average. The south west also has over one fifth of all second homes in the country.

More locally the position is as follows:

SHAL’s Chief Executive, John Thomson, said “a home should be a fundamental right for every family. Rising house prices are creating huge wealth inequalities, increasing the gap between property owners and the rest of society. People struggling to buy and people unable to buy are often in a similar situation – living in unsuitable housing, finding it harder to hold down jobs, seeing their children achieve worse results at school and suffering poorer health.”

Housing associations such as SHAL are responding. SHAL currently has two small projects of rented housing under construction. But the major problem being experienced is the lack of land available for building. With a shortage of supply and increasing demand, prices will continue to rise. The report predicts average south west house prices will rise from £219,000 to £316,000 by 2012.

Mr Thomson said “we welcome the government’s commitment to increase spending on housing, even though it is not enough. But what would really help is a government push to change the planning system to make delivery of new homes easier. A large increase in supply will reduce demand and make life easier for us all”.