Average earners in England would need to more than double their annual salary just to keep up with out of control house prices, new research by Shelter shows.
To investigate how out of sync house prices have become, the charity looked at wage and house price inflation since 1997 in each area of the country. This was then used to calculate what average annual earnings would be if they had risen at the same rate as house prices.
Ministers are encouraging developers and housing associations in England to bid for cash from a new £3.3bn fund which they say will create 165,000 affordable homes.
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