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Cornwall's Housing Crisis Deepens

news - housing

Published by the Pirate FM News Team at 10:44am 17th August 2012.

We are being warned thousands have no hope of ever getting on the property ladder.

It is as statistics show prices have more than doubled between 2001 and 2010, but earnings have only risen by a third.

Jenny Allen from the National Housing Federation says deposits are getting harder to get together too. She said: "Cornwall actually faced the biggest increases in requirements for deposit across the whole of the south west. If you're looking to buy an average house in Cornwall you're looking at finding £55,000. Which is over a five times increase"

"Many many people just can't pull together that kind of money. £55,000 for a young couple starting out looking to move into their first home. It's got to be nearly impossible I would have thought to find that kind of money without assistance from someone else"

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