THE average Bournemouth worker needs a 132% pay rise to afford a mortgage, a new report has revealed.
According to the National Housing Federation’s South West Home Truths 2017/18 report, the average home in Bournemouth now costs around £259,365, which is 10 times the typical salary.
The report, which aims to shine a spotlight on the housing crisis in the South West, says the average monthly rent now stands at £792, which is 37% of the average private tenant’s income.
Between 2012 and 2016, there was a shortfall of 2,700 new homes in Bournemouth.
Housing associations in the South West built over 4,200 homes in 2016-2017, and started a further 4,100.
The report also said 26% of people receiving housing benefit are in work but are still unable to afford their rent, which is higher than the England average.
Nikki Knowles, external affairs manager for the National Housing Federation, said: “The housing market has seen a relentless rise in the gap between house prices and people’s salaries. Bournemouth is no exception.”
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