House prices nearly 10 times average wage

HOUSE prices some parts of in Bedfordshire are nearly 10 times the average wage, according to a new report.

By The Newsroom

Published 7th Dec 2011, 11:02 BST

The average price of a house in Luton is now £160,361, 8.3 times the average wage, and in Central Bedfordshire it is £223,500, 9.1 times the average.

Across the east of England region, the average house price is £237,000.

The Grand Union Housing Group says the average worker in the east of England would have to save every penny from their pre-tax salary for nearly three years to raise the £59,000 deposit required to buy a £237,000.