How affordable is housing in Great Yarmouth?
Although Great Yarmouth has lower house prices and lower rents than some of our neighbouring authorities, low incomes mean that properties in Great Yarmouth remain unaffordable for some.
When calculating whether a property is affordable, a house price should be 3 to 3.5 times income, however in Great Yarmouth the lower quartile house price to earning ratio is 9:1.
Local Housing Allowance rates are paid for those in receipt of Housing Benefit and Universal Credit, however this does not always cover the rates in the private rental market in which case a 'top up' would be paid by the tenant.
The demand for affordable housing in Great Yarmouth, as with the rest of the country, is ever increasing. There are currently over 1,000 active applications for the Council's allocation pool and 150 applications for affordable home ownership products.