People wanting to live in Bath & North East Somerset (B&NES) face the highest rents anywhere in the South West, according to the Home Truths South West report issued this week by the National Housing Federation.
The average private sector rent in the district is £1,190 per month. Meanwhile, the cost of home ownership continues to move beyond the reach of many people, with the average house in B&NES costing 13.8 times typical earnings. This means the average family would need a household income of at least £87,106 to afford a mortgage.
Curo Chief Executive Victor da Cunha said: “These figures reveal the stark realities of the housing crisis in our district. Housing associations like Curo provide a lifeline for the growing numbers of people who can’t afford to rent or buy a home on the open market. We do this by providing homes at subsidised rents and through affordable home ownership schemes like Shared Ownership. We’re tackling the root causes of the housing crisis by building more new homes across the district.
“This year we have delivered 118 new affordable homes and started work at another rural site in Clutton which will see 12 affordable homes built. Together with the planning permission we recently secured for 31 new affordable homes at Peasedown St John and the work we are already doing at Mulberry Park in Bath, we’re working really hard to bring forward more affordable homes across the district but are always on the look-out for land and opportunities to work with others to build more.”
The Home Truths South West report is available at www.housing.org.uk/hometruths.