{"id":25211,"date":"2025-04-24T10:10:22","date_gmt":"2025-04-24T09:10:22","guid":{"rendered":"https:\/\/www.businessmole.com\/?p=25211"},"modified":"2025-04-23T16:09:47","modified_gmt":"2025-04-23T15:09:47","slug":"homeownership-dream-slips-away-as-open-property-group-warns-of-affordability-crisis","status":"publish","type":"post","link":"https:\/\/www.businessmole.com\/homeownership-dream-slips-away-as-open-property-group-warns-of-affordability-crisis\/","title":{"rendered":"Homeownership Dream Slips Away as Open Property Group Warns of Affordability Crisis"},"content":{"rendered":"<p class=\"\" data-start=\"297\" data-end=\"610\">The struggle to own a home in England is growing tougher, with soaring house prices increasingly outpacing wage growth. Open Property Group, a professional house buying firm based in Buckinghamshire, has expressed concern about the deteriorating state of housing affordability, particularly for first-time buyers.<\/p>\r\n<p class=\"\" data-start=\"612\" data-end=\"838\">Although average annual earnings have climbed by 5.6% over the past year, <a href=\"https:\/\/www.openpropertygroup.com\/sell-house-fast\/\">Open Property Group<\/a> points out that property prices are rising even faster across most regions\u2014making it harder for people to save and secure mortgages.<\/p>\r\n<p class=\"\" data-start=\"840\" data-end=\"1055\">The company\u2019s market review revealed that all English regions\u2014with the sole exception of London\u2014have seen house prices jump by at least 3% in the last 12 months. London, in contrast, experienced a slight price drop.<\/p>\r\n<p class=\"\" data-start=\"1057\" data-end=\"1303\">Yorkshire and the Humber saw the highest increase at 6.5%, followed closely by the Northeast and Northwest, with respective rises of 5.6% and 5.4%. These trends emphasise the growing gulf between average incomes and property costs in key regions.<\/p>\r\n<p class=\"\" data-start=\"1305\" data-end=\"1379\">Jason Harris-Cohen, Managing Director of Open Property Group, commented:<\/p>\r\n<p class=\"\" data-start=\"1305\" data-end=\"1379\">\u201cWhile salaries are growing faster than house prices in some areas, affordability remains a challenge for many aspiring homeowners due to the persistent gap between income and property values.\u201d<\/p>\r\n<p class=\"\" data-start=\"1577\" data-end=\"1639\">The company&#8217;s analysis highlights the following price changes:<\/p>\r\n\r\n<ul>\r\n \t<li><strong>Yorkshire and the Humber<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>6.5%<\/strong> <\/li>\r\n \t<li><strong>Northeast<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>5.6%<\/strong> <\/li>\r\n \t<li><strong>Northwest<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>5.4%<\/strong> <\/li>\r\n \t<li><strong>East Midlands<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>4.2%<\/strong> <\/li>\r\n \t<li><strong>West Midlands<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>4.1%<\/strong> <\/li>\r\n \t<li><strong>Southwest<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>3.8%<\/strong> <\/li>\r\n \t<li><strong>Southeast<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>3.4%<\/strong> <\/li>\r\n \t<li><strong>East of England<\/strong>\u00a0\u2013 average house prices increased by\u00a0<strong>2.9%<\/strong> <\/li>\r\n \t<li><strong>London<\/strong>\u00a0\u2013 average house prices decreased by\u00a0<strong>0.1%<\/strong><\/li>\r\n<\/ul>\r\n\r\n<p class=\"\" data-start=\"1891\" data-end=\"2036\">Open Property Group continues to keep a close eye on market shifts and calls for renewed efforts to improve housing affordability across England.<\/p>","protected":false},"excerpt":{"rendered":"The struggle to own a home in England is growing tougher, with soaring house prices increasingly outpacing wage&hellip;\n","protected":false},"author":10,"featured_media":25212,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","csco_singular_sidebar":"","csco_page_header_type":"","csco_appearance_masonry":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0},"categories":[88],"tags":[],"_links":{"self":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/25211"}],"collection":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/comments?post=25211"}],"version-history":[{"count":1,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/25211\/revisions"}],"predecessor-version":[{"id":25213,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/posts\/25211\/revisions\/25213"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/media\/25212"}],"wp:attachment":[{"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/media?parent=25211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/categories?post=25211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.businessmole.com\/wp-json\/wp\/v2\/tags?post=25211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}