Property prices 'prohibitively high' in south-east |
10 2008 |
| Young professionals are being priced out of the property market in the south-east of England, with many areas of Sussex now being turned into "retirement villages", new research has found. In spite of the popularity of the region with young people, construction of affordable housing currently amounts to just under a tenth of the government's national quota, according to Horsham district council. In addition, research carried out by the charity Action in Rural Sussex, has found that couples looking to get a foot onto the property market in the area now require a combined annual income of £72,000, around 40 per cent more than the regional average income. While a large number of young professionals are now choosing to rent in the south-east, councillors have warned that such high prices are leading to a "brain drain" as skilled people leave the area in search of more affordable living, the Brighton Argus has reported.  |
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