HOUSE prices in Test Valley have soared to more than ten times people’s salaries.

New data has shown that money earned has made it “increasingly unaffordable” to buy a property in the borough.

Published by the National Housing Federation, figures show an acute housing crisis across the South East, with an average house in Test Valley costing £332,248 while an annual salary average stuck at £32,531 in 2017.

Private monthly rent is revealed at an £957 average which makes up a near 40 per cent of residents monthly earnings.

Unlike other Hampshire boroughs, Test Valley did not have a housing shortfall in the last five years and had the second highest number of affordable homes in the county last year.

However, the National Housing Federation’s senior research manager Tristan Carlyon said: “While Test Valley may appear to be meeting projected need, this is not to say that there isn’t a problem.

“The data isn’t rich enough to say the right sorts of homes are being provided – that’s where there might well be an issue, especially as average house prices remain more than ten times average incomes in the area.”

Currently prospective buyers in Test Valley need £75,942 to afford an 80 per cent mortgage.

Previously Test Valley Borough Council has admitted there is a “severe shortage” of the right kind of accommodation to meet the social housing need, with The Advertiser previously reporting some tenants could wait as long as six years before getting a suitable home.

One of Romsey’s biggest housing providers, Aster Group, said it is looking to invest millions into the borough over the next four years.

Aster spokesperson Hannah Watkins said: “The housing challenge we face is as much one of choice as it is one of volume. Supplying a range of options to suit people with different housing needs is the way to address this - there’s more to the housing market than traditional buying and renting.

“We manage over 6,800 homes in the county and 15,400 people live in our homes across Hampshire.

“Over the next four years we will invest £19.5m in a further 68 new homes for social rent in Test Valley and another 27 homes will be available under our shared ownership scheme in the Test Valley area.”

Test Valley Borough Council said it aims to deliver 200 affordable homes a year and has delivered 483 since 2016.

Housing portfolio holder Phil Bundy said: “We recognise that Test Valley is an expensive housing market area and affordable housing is in high demand.

“The council puts a high priority on the delivery of new homes, including affordable homes.”