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Rural home prices rise compared to salaries

By Isle of Thanet Gazette  |  Posted: October 12, 2012

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HOUSE prices in rural parts of Thanet are more than 10 times the average income, according to research for Rural Housing Week.

Research from the National Housing Federation shows that, in 2011, average house prices rose to 14 times annual incomes in rural Kent, while prices in urban areas were only 11 times annual incomes.

In urban areas, the average house price was £211,019 while the average salary was £19,822. In rural areas, however, the average house price was £294,048 while the average salary was £20,698.

So while village house prices are 39 per cent higher than in towns, salaries are only 4 per cent higher.

In Thanet, the average house price was said to be £169,000 and the average income £15,631.

Almost two thirds of people in the South East countryside believe there is a shortage of affordable housing where they live, according to a National Housing Federation survey.

Over seven out of ten felt that families and young people were being priced out of the countryside, and seven out of ten said they would support a small number of homes being built for local people.

Warren Finney, South East lead manager at the National Housing Federation, said: "The countryside is a way of life for Kent, with around 33 per cent of the Kent population living in rural areas compared to only 27 per cent nationwide.

"With rural areas so much less affordable than urban areas, too many people are being priced out of their own towns and villages."

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