Shelter has issued another report claiming that there are not enough “affordable” homes for families to buy in York.
This is probably true but not to the extent that is claimed.
As with much other research data the figures are bedevilled by the use of average income figures.
It matters little what percentage of properties on the market are “affordable”. The key figure is the gross number available.
The key to whether there are “enough” affordable homes for sale rests with much more simple question.
What income would a family with 2 children need to be able to afford to buy a 2 or 3 bedroomed property in the City?
There are numerous properties currently advertised for under £100,000 in York. Most are, however, flats and are unlikely to appeal to families. (click images right and left for details)
• The cheapest 2 bedroomed house is advertised at £112,500 (Bramham Avenue)
• A similar 2 bed terrace in Kingsway West is advertised for £116,995.
• The cheapest 3 bedroomed house is available in Hatfield Walk for £124,950.
• A 3 bedroomed property in Barkston Close will cost £130,000
• The cheapest 4 bedroomed property can be found in Crombie Avenue for £165,000.
• A 4 bedroomed bungalow in Coniston Close in Rawcliffe is advertised at £177,000
• The cheapest 5 bedroomed property can be found in Osbaldwick Lane for £200,000.
• On the rental market a 2 bed terrace on Front Street can be had for £495 pcm
• The cheapest 3 bedroomed property is in Terrington Court in Strensall
• The cheapest 4 bedroomed property available to rent can be found on Foxwood Lane at £750 pcm.
It is the price of (privately) rented property that is the biggest issue in York at present.
This is partly influenced by the boom in student lets.
A number of new student halls of residence have recently been given planning permission in the City including the Press site.
There has been a boom in planning applications this year with many brownfield sites set to produce many more homes than were included in the draft Local Plan assumptions.