Homes in Devon and Cornwall 'cost 13 times annual wage'

Average house prices in Devon and Cornwall are 13 times the average annual individual wage, according to the National Housing Federation (NHF).

It said the average house in Cornwall costs £228,585, with the average individual salary at £17,628 a year.

In Devon, the average home costs £241,575, with the average income at £17,940 a year, the organisation has said.

The NHF added there was a greater need for affordable homes.

'Housing crisis'

Jenny Allen, South West lead manager for the NHF, said: "Lack of supply is at the root of the problem.

"Ministers need to act now to implement a range of measures to turn the tide on the current housing crisis, ensuring that homes continue to be built in the region and that affordable housing options remain."

The federation said more young professionals and middle income families are being priced out of the market.

The figures have been published in a report called the South West Home Truths.

In Devon, the South Hams is the most expensive area to live and Plymouth is the cheapest.

In 2010, the NHF said the average house prices in Cornwall and Devon were 12 times the average annual wage.

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