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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 lack of affordable housing in rural areas of the United States continues to be a critical issue and concern. Factors that can affect affordable rents and home ownership opportunities in Rural America include: lower income levels, urban sprawl pushing housing costs up, loss of high paying jobs and lack of access to credit.
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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. [62] The most expensive street in the UK is Kensington Palace Gardens, London, where the average price of a home is approximately £42 million. [63]
Homes England is the non-departmental public body that funds new affordable housing in England. It was founded on 1 January 2018 to replace the Homes and Communities Agency ( HCA ). HCA in turn was established by the Housing and Regeneration Act 2008 as one of the successor bodies to the Housing Corporation , and became operational on 1 ...
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 ...
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 ...
Country Homes & Interiors is published by Future plc and is the only magazine in the UK dedicated to modern country style. [2] History and profile
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