Links 21 March 2017

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  1. THE BRITISH HOUSING DISASTER : LATEST OFFICE OF NATIONAL STATISTICS REPORT

    Housing now unaffordable in all council areas as priceses soar to 8 times earnings … (UNITED KINGDOM ) Public Sector Executive

    http://www.publicsectorexecutive.com/Public-Sector-News/housing-now-unaffordable-in-all-council-areas-as-prices-soar-to-8-times-earnings?dorewrite=false

    Housing now unaffordable in all council areas as prices soar to 8 times earnings

    Housing affordability has worsened in all of the England and Wales local authority districts over the last 20 years, as the median price paid for residential property soared by 259%, a new report by the Office for National Statistics (ONS) has revealed.

    Using information from the House Price Statistics for Small Areas, the ONS calculated affordability by dividing house prices by annual earnings in different authorities across the country.

    The results of the findings form a grim picture of the UK housing market that shows average earnings are failing to keep up with the rising price of residential properties.

    Working people in 2016 could expect to pay around 7.6 times their annual earnings on purchasing a home in England and Wales, which is more than double the rate in 1997 – where it stood at 3.6 times average earnings. … read more via hyperlink above …

    Housing affordability in England and Wales – Office for National Statistics

    https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/housingaffordabilityinenglandandwales/1997to2016

    … Are the British learning anything from the New Zealanders ? … yesterdays MB article …

    NZ Labour shows way on housing policy – Leith van Onselen – MacroBusiness Australia

    http://www.macrobusiness.com.au/2017/03/nz-labour-shows-way-housing-policy/