The York Picture
The current housing market in York is not fit for purpose. York has a significant need for intermediate-cost housing that is not being met by either traditional for-profit developers or by social housing provision.
Rental and property prices are significantly above the region averages. Since 1997, house prices have risen over 300% in York. A 2014 Shelter Report identified an average increase in 3.3 years needed for first time buyers to save for a house deposit in York, compared to the regional average. Furthermore local incomes are not significantly higher to accommodate these higher prices, meaning average house prices are 8.62 times the local average income, compared to the region average of 6.47 times average income.
This causes many younger and middle income families to become caught in the “rent trap”, live in otherwise unsuitable accommodation or move outside York entirely. This increases pressure on already congested roads and harms York’s air quality. Since 2014 monthly rents in York have risen by 17.3%, compared to the Yorkshire/Humber regional average increase of 9.3%. Likewise, average local earnings have not kept pace with these increases in rent prices, with average earnings increasing by 8.9%.