25
Jul
Gwynedd public 'face housing worries'
People in one area of Wales are finding it difficult to get on the
property ladder because of rising living costs, it has been
suggested.
Gwynedd council stated that house prices in rural parts of the
county are higher than they are in other areas and this is having a
negative impact, reports the BBC.
In 2005, it said, a house there cost eight times the average
persons salary, while in 2006 Abersoch property prices were
£380,000 on average, 15 times more than the average wage
packet.
"Housing prices, all in all, are higher in the rural areas and in
small villages," the report suggested.
The higher prices are being seen in both rented and mortgaged
homes, the council highlighted. It specifically stated that
first-time buyers are facing tough times.
A recent report from the British Bankers' Association showed that
mortgage approvals dipped by 23 per cent in June. It remarked that
approval levels this year will be the lowest since the recession in
the 90s.