
Buying a home is still an impossible dream for many families because average house prices in Kent are nearly 11 times the average individual income.
That is the gloomy conclusion of South East Home Truths, a new report by the National Housing Federation.
The report, which reveals that Sevenoaks is the least affordable part of the county and Medway the most affordable, highlights the ever-increasing need for more affordable housing in the county as well as the wider region.
The average house price for Kent in 2008 (£233,143) stood at nearly 11 times the average individual income (£21,507), with even homes in the lowest quartile costing an average of £150,000.
In most areas of Kent, an annual income of £50-60,000-plus would be required for a 90 per cent mortgage and £100,000-plus in Sevenoaks, closely followed by Tunbridge Wells with £77,000-plus.
In Ashford the average house price is £238,746 which is 11.3 times the £21096 average salary Warren Finney, NHF South East regional manager said: "Given the current state of the economy, where we are seeing increasing unemployment and repossessions, combined with a growing population and rises in overcrowding, home ownership's just a dream for thousands of low-to-middle income households in the south east.
"The solution has got to be to invest in more high quality homes for social rent now, before prices begin to shoot up again.
"Housing is at the heart of the solution to economic recovery, and the Government must ensure it remains a funding priority, enabling the region's housing associations - who build the majority of affordable homes here - to deliver the high quality affordable housing we so desperately need."