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The gap between average income and average housing prices changed between 1985 and 2015 from twice an average salary to up to six times average income. Median house prices in London the median house now cost up to 12 times the median London salary. In 1995, the median house price was £83,000, 4.4 times the median income.
The consequence of this is seen in the high price for top-end dwellings. The most expensive home ever sold in the UK was 2–8a Rutland Gate, Hyde Park, which sold for £280 million in 2015. [61] The most expensive street in the UK is Kensington Palace Gardens, London, where the average price of a home is approximately £42 million. [62]
The lack of affordable housing is one of the most critical issues facing rural communities in the UK. [citation needed] This results in people have to move away to find affordable housing, which means that families are separated by distance and are less able to support each other by providing childcare or to do shopping for elderly relatives.
Local governments usually appropriate state-owned land to real estate developers, who are responsible for the finance and construction of affordable housing. [21] The profit for real estate developers is controlled to be less than 3%, [22] so as to keep the price of housing at the affordable level. Individuals need to apply for the affordable ...
The definition of affordable housing may change depending on the country and context. For example, in Australia, the National Affordable Housing Summit Group developed their definition of affordable housing as housing that is "...reasonably adequate in standard and location for lower or middle income households and does not cost so much that a household is unlikely to be able to meet other ...
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From the first interventions in the Public Health Act 1875 (38 & 39 Vict. c. 55) to the Housing of the Working Classes Act 1900, council houses could be general housing for the working class, general housing, part of slum clearance programmes or just homes provided for the most needy. They could be funded directly by local councils, through ...
Yet Jansen is young for a free agent catcher and will try to sell suitors on the fact that just two years ago, he was a 3-win player with an .855 OPS. SIGNED : One year, $8.5 million with Rays ...