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Houses prices in Malvern ten times more than average salary

Malvern Editorial 23rd Oct, 2014 Updated: 20th Oct, 2016

MALVERN has been outed as the most unaffordable place in the West Midlands.

According to the National Housing Federation’s (NHF) latest report ‘West Midlands Broken Market, Broken Dreams’, the average house price in Malvern Hills is more than ten times the typical salary in the area.

The findings revealed residents generally earned £23,629 a year compared to the average house price of £240,830.

Although Stratford-on-Avon and Warwick are more expensive places to live in the West Midlands, people living there generally earn more.

The NHF has used the latest figures to reinforce its call for more affordable housing, claiming each new property generates about £80,000 to the regional economy and creates almost two jobs.

Gemma Duggan from the NHF said: “Although the housing crisis is very different in different parts of the West Midlands, the solution is the same; we need to build more homes. Building the right houses in the right places at the right prices is integral to creating stronger communities where people want to stay.

“The housing crisis in the region has been more than a generation in the making so short term initiatives aren’t going to fix it for this generation.

“We are calling on the next Government to commit to ending the housing crisis within a generation by publishing a long-term plan for housing within a year of coming into power.”

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