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11:24am Friday 25th July 2008
EAST Lancashire’s beautiful countryside and villages are one of its greatest assets.
But a new House of Commons report has found that few residents in East Lancashire will ever be able to afford to live in the rural havens most commonly found in the Ribble Valley.
Even more worryingly, young people who have been born and bred in these areas stand absolutely no chance of ever being able to buy their own properties.
The Living, Working, Countryside review found that the disparity between wages and house prices means that villages could become "exclusive enclaves of the elderly and wealthy".
An average wage in the Ribble Valley for a person in fulltime employment is £23,042. This means that they would have to borrow 12 times their salary to pay the average house price of £265,381.
The credit crunch and slowdown in the housing market may make homes more affordable but the effects in sought-after rural areas will be minimal.
Other areas in the Lake District and parts of Wales are experiencing similar problems.
Measures need to be introduced by Government to safeguard villages and ensure they do not simply become glorified holiday resorts for the rich.
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