{"id":6299,"date":"2015-10-15T13:00:18","date_gmt":"2015-10-15T12:00:18","guid":{"rendered":"http:\/\/unitelive.org\/?p=6299"},"modified":"2015-10-15T13:00:18","modified_gmt":"2015-10-15T12:00:18","slug":"house-prices-soar","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=6299","title":{"rendered":"House prices soar"},"content":{"rendered":"
<\/div>\n

House prices soared by 3.8 per cent for first-time buyers in August, according to the latest figures by the Office for National Statistics (ONS).<\/p>\n

 
\nThe surge in prices pushed the value of a typical home to a record \u00c2\u0141284,000 and the average price of a starter home rose to \u00c2\u0141215,000 after prices climbed \u00c2\u01412,000 in just one month.<\/p>\n

 
\nWith a 10 per cent deposit, buyers would need a salary of \u00c2\u014145,000 to be able to make their mortgage repayments.<\/p>\n

 
\n\u00e2\u20ac\u015bPrices have risen despite the government\u00e2\u20ac\u2122s attempts to make house prices more affordable for first time buyers because of a huge shortage of houses,\u00e2\u20ac\u0165 said Unite assistant general secretary Steve Turner.<\/p>\n

 
\nThe government\u00e2\u20ac\u2122s flagship scheme, Help to Buy, allows people to buy a house priced up to \u00c2\u0141600,000 with as little as a 5 per cent deposit.<\/p>\n

 
\nBut a report by business group London First has also revealed that soaring London house prices are costing the economy more than \u00c2\u01411bn a year.<\/p>\n

 
\nAstronomical<\/strong> <\/em><\/p>\n

 
\nLondoners have inadequate disposable income once they\u00e2\u20ac\u2122ve paid astronomical mortgage repayments and rent.<\/p>\n

 
\nThe report found that shop workers, hospitality workers and administration staff would have to pay their entire per-tax salary to rent an average private home in London.<\/p>\n

 
\nThe problem is only set to escalate with prime minister David Cameron\u00e2\u20ac\u2122s plan to extend the right to buy scheme to the 1.3m housing association tenants.<\/p>\n

 
\n\u00e2\u20ac\u015bOur growing housing crisis cannot be ignored any longer,\u00e2\u20ac\u0165 said Steve.<\/p>\n

 
\n\u00e2\u20ac\u015bThe refusal of government to release investment to build desperately needed social housing is a crime against humanity,\u00e2\u20ac\u0165 he added.<\/p>\n

 
\nLondoners face the highest risk of losing their homes because of repossession from mortgage lenders and landlords.<\/p>\n

 
\nUnsustainable<\/strong><\/em><\/p>\n

 
\n\u00e2\u20ac\u015bThis continuous rise in the cost of housing is unsustainable \u00e2\u20ac\u201c prices in both the rental and sales markets simply don\u00e2\u20ac\u2122t match with people\u00e2\u20ac\u2122s incomes,\u00e2\u20ac\u0165 said Steve.<\/p>\n

 
\nThere are also 3m adult children living at home with their parents because they cannot afford to get a foot on the property ladder, renting or buying.<\/p>\n

 
\n\u00e2\u20ac\u015bThe government, rather than flogging off our social housing stock, should be investing at a time of low interest rates, in a massive council house building program and offering incentives under a \u00e2\u20ac\u0098right to build\u00e2\u20ac\u2122 not \u00e2\u20ac\u0098right to buy\u00e2\u20ac\u2122 scheme,\u00e2\u20ac\u0165 added Steve.<\/p>\n

 
\nHave a look at the BBC\u00e2\u20ac\u2122s website to see where in the UK you can afford to buy or rent, with its \u00e2\u20ac\u0098Where can I afford to live?\u00e2\u20ac\u2122<\/a> calculator.<\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

House prices soared by 3.8 per cent for first-time buyers in August, according to the latest figures by the Office for National Statistics (ONS).   The surge in prices pushed the value of a typical home to a record \u00c2\u0141284,000 and the average price of a starter home rose to \u00c2\u0141215,000 after prices climbed \u00c2\u01412,000 […]<\/p>\n","protected":false},"author":1,"featured_media":4015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17],"tags":[109],"wps_subtitle":"Surge of \u00c2\u01412,000 in just one month","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/6299"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6299"}],"version-history":[{"count":1,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/6299\/revisions"}],"predecessor-version":[{"id":6300,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/6299\/revisions\/6300"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/4015"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6299"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6299"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6299"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}