by Jack Abell
HOUSE prices in Buckinghamshire are set to rocket over the next five years unless new affordable housing is built, according to a new report.
At the moment, average house prices in Buckinghamshire are nearly 14 times average income in the area, and over the last five years housing waiting lists have almost doubled.
The National Housing Federation (NHF) have released a report suggesting that a low period of house price inflation in 2008 will make a housing crash unlikely, meaning that in five years time the average home in the South East will cost nearly £400,000.
Derek Cash, the NHF's head of South Region said: "Buckinghamshire is experiencing a rapidly escalating housing crisis, with waiting lists almost doubling in the last five years. We are simply not building enough homes to meet demand."
The news comes shortly after announcements that the South Bucks and Chiltern Districts were set to have almost 5,000 new homes built there over the course of the next 20 years.
At the moment, Buckinghamshire is one of the most expensive counties for house prices in the country, and the NHF believes that a lack of social homes is partly to blame.
According to their statistics there are currently around 455,000 people in the county are now waiting for one, causing housing costs to go through the roof.
The report said: "When housing supply and demand are so out of kilter, there can only be one result."
Post to: del.icio.us | Digg | Newsvine |