Residents in Shrewsbury and Atcham need to be earning more than £51,000 if they want to buy their own home, according to shocking new statistics.
According to research carried out by the National Housing Federation (NHF), average house prices in the area are £199,535.
And that means that families living in Shrewsbury and Atcham would need to be earning £51,309 to get a mortgage to buy an average priced home. But according to the Annual Survey of Hours and Earnings (ASHE) for 2008, average earnings are only £17,649 - about a third of what would be needed.
Currently there are 1,237 households are on a waiting list for affordable homes in the area, but NHF regional head Gina King said many people are now giving up hope of finding an affordable home.
Ms King said: “It is disappointing to see that housing waiting lists rose faster than any other region last year. The West Midlands is a market which remains unaffordable, has the highest unemployment rate of any English region and still witnesses vast numbers of families in unsuitable accommodation, with one in 20 families in social housing living in overcrowded housing.
“Demand still outstrips supply, and at the rate we are building it is simply not possible to keep pace with housing waiting lists rising at such an alarming rate.”
Across the whole county almost 7,000 people are on waiting lists because they can’t afford to buy a home outright.
In south Shropshire, the most expensive area in the county, the average house price is £242,702, meaning a family would need to have an annual income of £62,400 to be able to afford a mortgage there.
And in north Shropshire the average house price is £209,235, with families needing to earn £53,803 to be able to buy a home.
By Pam Griffin