YOUNGER generations who have grown up in Epping Forest are being forced to leave the district because average house prices are now the highest in Essex, a new report has claimed.
According to the National Housing Federation, an annual income of at least £60,000 is needed to buy a home in the district, with average property prices hitting just over £351,000 - the third highest in the whole of eastern England.
The lobby group, which represents housing associations across the UK, says the figures, coupled with a lack of social housing, are forcing many first time buyers to leave the district for good.
James Sear, owner of James Sear Estate Agents on Epping High Street, said there was evidence of a demographic shift in the region.
He said: “Most of our customers are people buying for the second or third time. We do get some first time buyers but most of them are couples who have been given some help from their parents towards the deposit.
“Many people are moving into the district from areas like Leyton, Leytonstone, Woodford and Ilford. It's very difficult for first time buyers here unless you have a very large salary.
"The district is a very high priced area, mainly because of the ease the Central Line provides in getting people to work in London.
“We even have difficulty convincing people to go out to places like North Weald because it hasn't got a tube station.”
Prospective first time buyer Paul Maydoon, 24, who lives with his mother in Regent Road, Epping, told the Guardian that current prices in the district had led him to discount the region altogether in his hunt for a house.
He said: "I'm hoping to move out in the next year and my family don't want me to live too far away but I have no choice.
"There is no way I'd ever be able to afford a flat in Epping on my current salary, even though I'd like to stay in the area.
"It's much cheaper for me to find a place in London instead, even though it's a capital city."
The report comes just weeks after charity Shelter warned that the district was facing a housing crisis due to a lack of social housing.
It claims it would take 12 years for Epping Forest District Council to clear its social housing waiting list.
Gina King, of the National Housing Federation, said the figures demonstrated the need for more investment in social housing.
She said: "The figures paint a clear picture of the difficult situation facing families in the East of England who are looking for a home.
“With the combination of high house prices incomes that don't match and a major shortfall in social housing in the region, it’s no surprise that waiting lists are continuing to grow.”
Are you a first time buyer? Have you been affected by any of these issues? Contact reporter Daniel Binns on 0779 547 6625 or via email at dbinns@london.newsquest.co.uk
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