Pirate FM News

Cornwall's Affordable Housing "Drought"

affordable housing

Published by the Pirate FM News Team at 8:45am 25th June 2014

There is no place like home in Cornwall.

Figures seen by Pirate FM show only 6% of houses on sale in the south-west are affordable to working families.

Shelter trawled through thousands online in one day.

For a home to be affordable, the charity based it on a typical first-time buyer putting down an 18% deposit and borrowing around three and a half times their income.

Spokesman Campbell Robb says too many are struggling: "No matter how hard people work and how hard they save, across the whole of England we're seeing that they're not just facing an affordable housing shortage anymore, it's a full-blown drought.

"There just isn't enough affordable housing for buying for people who are on an average wage. That's basically because there are not being enough built so it's not fixing the mortgage market, it's about building more homes."

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