Only those on £40k a year can afford an average home in Cumbria, new report claims

The cost of houses is in stark contrast to average wages Credit: PA

Only people earning around £40,000 a year can now afford an average mortgage in Cumbria, a new report has claimed.

According to the North West Home Truths 2015/16 report from the National Housing Federation, the feasibility of owning your own home in Cumbria is fast becoming 'further and further out of reach for many.'

The report reveals that the average worker in Cumbria would need a 69% pay rise in order to afford an average mortgage:

There is a large contrast between wages and house prices Credit: PA

The report claims that a combination of factors have caused the disparity between average wages and mortgages.

In some areas a shortage of homes has seen housing costs spiral out of reach of many families, while in other parts of the region communities are in need of jobs and regeneration.

the average worker in Cumbria would need a 69% pay rise in order to afford an average mortgage Credit: PA

The most unaffordable areas of Cumbria places in Cumbria are as follows, with South Lakeland leading the table in terms of un-affordability, but comes second to Eden district in terms of the contrast between mean wages and house prices.

The affordability of homes in Cumbria Credit: National Housing Federation

House prices in prices in South Lakeland now average around nearly a quarter of a million pounds while in Eden they are over £200,000, hitting ten times average salaries.

Monica Burns, external affairs manager for the National Housing Federation in the North East, said:

In the private renting sector, Cumbrian tenants are paying an average of £504 a month in rent, roughly a quarter of the average monthly income.