Chartered Institute of Housing boss: The UK has "more than one housing market"
One of the senior figures at the Chartered Institute of Housing has hit out at the state of the current housing market.
Melanie Rees, head of policy at the Chartered Institute of Housing, has stressed that the disparities in house prices across the country should be addressed, as well as the need for more rental housing.
Melanie told BBC Radio Five live’s Wake up to Money programme that the UK has “more than one housing market”.
She explained: “They are all suffering in different ways.”
“A lot of the focus is on London and the South East, in terms of cost and affordability.”
According to Melanie, the effects can also be seen across the country, with the cost of a house in parts of Cumbria costing 2.5 times the average salary but rising to 5 times salary in Newcastle and 12 times salary in Cambridge.
She added: “We should be building not just homes to buy, but also for social rent.”
Access free online guidance for North East businesses in the Growth Hub North East's COVID-19 toolkit →