HOUSING TIMEBOMB

WEST Sussex is facing a "housing timebomb".This is the startling finding of a new report which reveals the average house price in the South East of England is set to rise to over £322,000 in five years time, fuelled by a severe lack of housing supply and a growing population.
By The Newsroom
Published 3rd Oct 2006, 14:59 BST
Updated 8th Jun 2018, 03:52 BST

At present, many people are not just struggling to get in the property ladder- they are being priced out of the market. And the prospect for the future is black.

The plight of a young Worthing couple, who were married in February, but are having to live with parents because they cannot afford to buy a house, has highlighted the gravity of the situation.

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Jessica and Michael Fifield from Worthing are an example of a young married couple with good jobs for whom the prospect of buying a house is at the moment a distant dream.

Jessica, works as a deputy manager in advertising while Michael is a supervisor in a supermarket.

Jessica said: "We got married in February but we have had to move back in with my parents in order to try and save for a mortgage.Young people are being squeezed out - its depressing.

"The last offer we got for a mortgage was for 85,000, well all that buys you in West Sussex a beach hut."

Jessica said many of her friends have also had to move back to live with their parents.

For full story and figures see West Sussex Gazette October 4

Related topics:WorthingWest Sussex Gazette