Housing – and specifically the dearth of reasonably priced housing – is an issue that crops up again and again in the political conversation. Young people are being priced out of the housing market; even where new housing is being built, very little of it could be classed as ‘affordable’.
So today’s news that the average house price is now eight times the average wage will, probably come as little surprise. House prices have been increasing exponentially over the last few decades; in 2000, the average house was 3.96 times the average income, and even since 2007 the average house price has increased by 19%. The fact that it isn’t a surprise doesn’t mean that it isn’t something we should be concerned about, however.
A few weeks ago, Ed West that Tories need houses, rather than memes, to attract younger voters.
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