Squeeze on home buyers 10 areas where property prices have soared ahead of wages | Personal Finance | Finance [Video]

Soaring house prices over the past 10 years mean the typical property now costs more than eight times the average salary.

The disparity means millions of young people have been forced to give up their home-owning dream or take on huge mortgages.

Separately, many people have been priced out of owning a home in the areas where they were born and raised.

A new study has identified the 10 areas where property prices have outpaced increases in wages faster than anywhere else in the country.

The data makes clear that London remains the most unaffordable region where house prices in some areas are more than 15 times the wages of locals.

By contrast the North East is the only region of England where wages have increased at a faster rate than house prices.

The list is headed by London’s Barking and Dagenham where the median property pricehas doubled from £177,500 to £380,000 over the past 10 …