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| Bury Free Press, 4 October 2005 |
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| First-time buyers in Suffolk are still being priced out of a stretched housing market, according to a council boss. |
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| The news comes after recent figures showed house prices in Bury St Edmunds have increased by more over the last five years than in the UK as a whole. |
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| Home-buyers are having to pay £190,000 for an average property in Bury, representing a 93 per cent rise over the last five years – eight per cent higher than the rest of the country. |
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| It means the average mortgage is now almost nine times the average wage, forcing first-time buyers out of the market and creating extra demand for affordable housing. |
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| Mike Dawson, corporate director for community at St Edmundsbury Borough Council, admitted it was a tough time to be buying a house. |
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| "Even though the market has slowed in recent months, prices are still going up and it's making it very difficult for first-time buyers to get a hold on the market," he said. |
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| "This, in turn, is putting extra pressure on the provision of affordable housing as people are slipping off the bottom of the ladder and looking for cheaper alternatives. |
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| "We have had one of the biggest affordable housing programmes in the region, but the pressure on us to ensure we have the capacity to meet demand is immense." |
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| Mr Dawson said one way of securing more affordable housing was by providing shared equity schemes – where people buy only part of the home. |
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| This is something that has won the backing of David Ruffley, MP for Bury and Stowmarket, who called for more such schemes across the county. |
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| "Rising house prices are good news for existing homeowners, but my concern is for those who cannot get on the property ladder," he said. |
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| "That is why I want the borough council and the Government to push ahead with shared equity schemes to help first-time buyers. |
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"It's a practical solution to a local problem."
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