Why you need to earn £40,000 to buy a house in Leeds

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PEOPLE NEED to earn more than £40,000 a year before they can afford a typical mortgage in Leeds, according to a new report which warns of a worsening housing crisis.

The National Housing Federation says the cost of renting or buying a home is becoming increasingly out of reach for too many in the region.

Their report show the gap between house prices and average earnings is bigger in Leeds than anywhere else in West Yorkshire.

House prices are increasingly ‘out of reach’ for many in Leeds: Click here for more

In Leeds the average house price was £178,516 which is more than seven times higher than the mean annual earnings of just over £25,000. It calls for urgent action to provide more homes.

Coun Richard Lewis, the council’s executive member responsible for housing, said a plan to create new council homes was being undermined by Government “extending right to buy and forcing the sale of council homes.”

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Artist Ruth Spencer Jolly who composed 'European Unison' an ensemble written for 28 pianos, representing the members of the European Union and symbolising Brexit, following a preview of her work at Besbrode Pianos in Leeds. PRESS ASSOCIATION Photo. Picture date: Thursday March 23, 2017. The composition tells the story of the EU from its birth to Brexit. The ensemble of pianos is a metaphor demonstrating "the whole is greater than the sum of its parts". Photo: Danny Lawson/PA Wire

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