HRABP - Draft 8 - Flipbook - Page 4
2 National and Regional and Local Context
The housing market has undergone a significant shift over the last decade at a national,
regional and local level. There has been an increasing shortage of housing across all tenures
and the lack of affordability of homes to buy and rent has become an increasing issue for
people on low and average incomes. Welfare Reform is having an additional impact on the
housing situation of many people on low incomes. The impact on the economy of Brexit is not
yet fully known but most recently the increased costs of imports and reduced immigration
from the European Economic Area, has affected the construction industry, leading to higher
costs and shortages of labour. Having risen rapidly over the last few years house prices are
now expected to increase less rapidly or decrease in the immediate future. There remains a
considerable demand for low cost housing.
£
The average cost
of a home is
10 times
the average salary
At a regional level the east
of England has reflected the
changes nationally. The average
cost of a home in the region is 10
times the average salary making
affordability an issue. Salaries
are generally low with 25% of
all Housing Benefit claimants
working. There is a growing
ageing population in the region
placing different demands on
the housing market.
25%
of
Housing Benefit
claimants are
in work
Locally, Waveney district is generally a less prosperous area than most in the region with
some wards in Lowestoft characterised by severe economic deprivation. The area has
lower than average house prices and rents but
also lower salaries and levels of employment.
There is a strong demand for housing for sale
or rent. The district also has a growing elderly
population with increasing need for accessible
housing and housing with support.
East Suffolk HRA Business Plan 2018 - 2048
