More first-time buyers locked out of housing market in south west Hertfordshire, report reveals

Watford Observer: More first-time buyers locked out of housing market in south west Hertfordshire, report reveals More first-time buyers locked out of housing market in south west Hertfordshire, report reveals

More and more first-time buyers are being locked out of the housing market in south west Hertfordshire, new research has shown.

Figures compiled by housing charity Shelter showed the gap growing between the cost of getting on the property ladder what many people on average incomes can afford.

The charity used average earnings data to work out young families and single people could afford in different areas if they had an average sized deposit.

However, when compared to figures compiled by Hertfordshire County Council in 2011, the affordability data showed average priced homes back then were even out of reach for many people.

Watford:

Average house price in 2011:
Detached - £535,100
Semi-detached - £290,500
Terraced - £231,400
Flat/maisonette - £176,000

Affordability threshold:
Couple without children - £208,895
Couple with children (one in full time work and one part time) - £157,649
Single person (working full time) - £109,772

Rickmansworth:

Average house price in 2011:
Detached - £717,000
Semi-detached - £355,500
Terraced - £312,600
Flat/maisonette - £238,000

Affordability threshold:
Couple without children - £220,844
Couple with children - £167,436
Single person - £111,506

Abbots Langley:

Average house price in 2011:
Detached - £464,200
Semi-detached - £304,200
Terraced - £260,100
Flat/maisonette - £159,700

Affordability threshold:
Couple without children - £220,844
Couple with children - £167,436
Single person - £111,506

Bushey:

Average house price in 2011:
Detached - £531,400
Semi-detached - £340,500
Terraced - £310,600
Flat/maisonette - £293,600

Affordability threshold:
Couple without children - £197,385
Couple with children - £145,900
Single person - £91,540

Radlett:

Average house price in 2011:
Detached - £952,100
Semi-detached - £405,900
Terraced - £388,700
Flat/maisonette - £349,800

Affordability threshold:
Couple without children - £197,385
Couple with children - £145,900
Single person - £91,540

Kings Langley:

Average house price in 2011:
Detached - £521,300
Semi-detached - £355,100
Terraced - £283,400
Flat/maisonette - £154,600

Affordability threshold:
Couple without children - £192,199
Couple with children - £136,825
Single person - £97,275

Watford Observer:

The findings from the charity prompted Watford Labour parliamentary candidate, Matt Turmaine, to argue for more house building in the town.

Mr Turmaine said: “Labour recognises that housing is a major part of the cost of living crisis forced upon the country by this Tory and Lib-Dem Coalition government. The figures speak for themselves. This is not an acceptable situation.

“This is why Labour has committed to building 200,000 homes per year by 2020.”

Mr Turmaine added that the party still did not support the building of 750 homes in West Watford, planned as part of the health campus, and said he wanted a “more intelligent” approach in the town.

Following the report, Richard Harrington, Watford’s Conservative MP, said: “The Government has put in place measures to try and make it easier for first time buyers to get onto the property ladder, for example more people have taken advantage of the Help to Buy scheme in Watford than they have in surrounding areas such as St Albans, Hertsmere or even Stevenage where property prices are lower.

“There is more to be done though and we should support people in Watford who want to stay near their families are buy here, to be able to do so. “

The MP added that the new homes bonus, which councils received for new developments in their area, was also encouraging housing building.

However elected mayor Dorothy Thornhill warned that allowing developers to fill “every nook and cranny” in the town would not solve the problem.

The Liberal Democrat said: “It is naive to think we can build ourselves out of it. This is a national problem with no easy answers.”

The mayor added that big developments, such as the 750-home health campus, were the best way of building more affordable housing in the area.

Comments (5)

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11:35pm Wed 2 Jul 14

Popeonarope says...

Cap rents. Job done.
Cap rents. Job done. Popeonarope
  • Score: 0

10:00am Thu 3 Jul 14

Wacko Jacko says...

We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east.
Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets.
We all remember their treasury minister's smart alec 'there's no money left, good luck!' note.
One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally.
We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east. Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets. We all remember their treasury minister's smart alec 'there's no money left, good luck!' note. One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally. Wacko Jacko
  • Score: 2

11:58am Thu 3 Jul 14

G_Whiz says...

Wacko Jacko wrote:
We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east.
Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets.
We all remember their treasury minister's smart alec 'there's no money left, good luck!' note.
One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally.
I don't understand why Labour wanted to overpopulate the Country so much in the first place.

Anyone with any noggin knew this was going to happen and should have made plans - did Labour Build loads of houses? No!

Did Labour Saturate the market and Throw all our money away? Yes!

Now with eyewatering population growth forecasts, food production reducing and strained power supply, we can safely say we are stuffed!

I dare you all the check those forecasts - It's gonna change down here big time in the next 4 decades.
[quote][p][bold]Wacko Jacko[/bold] wrote: We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east. Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets. We all remember their treasury minister's smart alec 'there's no money left, good luck!' note. One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally.[/p][/quote]I don't understand why Labour wanted to overpopulate the Country so much in the first place. Anyone with any noggin knew this was going to happen and should have made plans - did Labour Build loads of houses? No! Did Labour Saturate the market and Throw all our money away? Yes! Now with eyewatering population growth forecasts, food production reducing and strained power supply, we can safely say we are stuffed! I dare you all the check those forecasts - It's gonna change down here big time in the next 4 decades. G_Whiz
  • Score: 2

3:57pm Thu 3 Jul 14

Harry Caine says...

Wacko Jacko wrote:
We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east.
Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets.
We all remember their treasury minister's smart alec 'there's no money left, good luck!' note.
One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally.
Someone else the World-wide banking crisis passed by

Does the monica refers to a penchant for herbal cigarettes perchance?
[quote][p][bold]Wacko Jacko[/bold] wrote: We certainly need more houses in Watford, but it's such popular place that demand here will always outstrip supply. This problem won't go away until the wider national picture of housing and employment availability changes and the population begins to migrate further north, away from the over heated south east. Turmaine clearly suffers from the institutional amnesia suffered by all Labour members. He convenently fails to remember that the economic crisis was precipitated on their watch and in a large part by their lack of regulation of the financial markets. We all remember their treasury minister's smart alec 'there's no money left, good luck!' note. One thing we have all learnt through bitter experience is Labour can't be trusted with the economy, and that applies both locally and nationally.[/p][/quote]Someone else the World-wide banking crisis passed by Does the monica refers to a penchant for herbal cigarettes perchance? Harry Caine
  • Score: 0

8:07am Fri 4 Jul 14

garston tony says...

Its a sad situation but not a new one, people have been priced out of buying in the area for decades
Its a sad situation but not a new one, people have been priced out of buying in the area for decades garston tony
  • Score: 1
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