House prices rise nearly twice as fast as wages

Date: Tuesday, 13 October 2015
Embargo: For immediate release

House prices rise nearly twice as fast as wages

New statistics from the Office of National Statistics published today (Tuesday) show that house prices have increased by 5.2 per cent in the year to August, while wages rose by 2.9 per cent.

Commenting on the new figures, TUC General Secretary Frances O’Grady said:

“The housing affordability crisis is condemning people to a life of soaraway rents, living with their parents, or sofa surfing.

“Clearly a new deal for housing is needed, along with genuine measures to rebalance the economy and relieve the housing pressure on London and the South East.

“If the Conservatives really are the party of builders, then they need to get building affordable homes.”

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