Millions unable to afford homes in 'rental-trap' areas

Millions of Britons are living in areas where they are either unable to afford a mid-priced property, face a disproportionately high rent, or both, a Guardian analysis reveals. It shows that close to half of the postcode districts (48%) included in the research are "rental traps" - areas in which a family cannot afford to buy a mid-price property. In a further 11% of the areas it is not only unaffordable to buy but also to rent because the cost eats into a disproportionate amount of the household's income. Figures from the Office of National Statistics show that, while earnings in England and Wales have doubled since 1997, house prices have increased at a much faster pace, multiplying by 4.5 times over the same period. In the year to September 1997 a mid-range house in England cost 3.5 times the median full-time salary, by 2022 that ratio had grown to 8.3 times a person's median earnings. 

The Guardian (10/06/2023)