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Union's housing appeal to Government
1:05pm Tuesday 13th May 2008
Comments (0)THE average house price of £133,388 in Bury is five times the average earnings for full-time workers of £26,890 in the area, according to the GMB union.
It commissioned a study after reports that members were being priced out of the housing market and that those with mortgages were being hit by repossession orders. GMB want the Government to take action to get new social houses built, inflation level pay rises and enhanced redundancy pay when they lose their jobs.
Union regional secretary Paul McCarthy said: "Major lenders say that house prices are falling from the current high multiples of average earnings in the North West. I expect house prices to return to their more traditional link of between 3.6 and 8.1 times above average earnings."
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