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Rural housing significantly less affordable

House prices in rural areas are significantly less affordable than in urban areas according to the latest Halifax English Rural Housing Index.
Research found that the average property price in rural areas is 6.7 times average earnings compared with a ratio of 5.6 in urban areas. First time buyers account for only 24 per cent of the market in rural areas compared with 41 per cent in urban areas.
The least affordable rural local authority in England is North Cornwall where the average house price of £212, 960. This is 10 times the local annual average earnings of £21, 367. North Lincolnshire is the most affordable rural local authority with an average house price of £121, 539, 3.8 times local annual average earnings of £31, 720.
Halifax chief economist Martin Ellis says: “Housing market conditions are particularly tough for those living in rural areas. Higher house prices combined with lower average earnings means that property is less affordable than in urban areas.
“This is making it especially difficult for first-time buyers to get a foot on the property ladder whilst, at the same time, there is less provision of social housing to cater for the needs of those living in rural areas.”


Northern Ireland IFAs missed out on training

Pension providers shunned Northern Ireland IFAs in the run-up to A-Day with many getting no training until after April 6, says Whitechurch Network. Compliance technician Nick Cunningham says several IFA firms rang Whitechurch Network at the beginning of April asking for training because they had a lot of unanswered questions about A-Day. Cunningham went to […]

CTFs can help address student debt problem, says F&C

Rising levels of personal debt, particularly that of young people is likely to increase following the introduction of student top-up fees this autumn, warns F&C Asset Management.  F&C says the sooner parents and guardians start saving towards the future cost of a child’s higher education, the better.It says the average student debt is currently estimated […]

Easter aiming to mend firm’s ‘broken model’

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New mortgage chief at B&B

Bradford & Bingley has appointed Andy Wiggans as director of mortgage products.He joins from HBOS where he was previously head of savings products and head of mortgage products. His new role encompasses the Bradford & Bingley and Mortgage Express brands and covers mortgage product development, product management and strategic marketing. He will report to group […]

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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