Tunbridge Wells faces a brain drain as young people are priced out of the town by high rents which leave them unable to save for a mortgage
With the average starting price for a house in Tunbridge Wells at £550,407 and 11 streets in the town with average property price of more than £1million, owning a home is out of the question for most youngsters.
Some are choosing to stay at home with their parents rather than spend 40 per cent of their wages renting.
Others are considering abandoning the town either for London – where rents are equally expensivebut with more life opportunities – or for cheaper places.
The Courierthis week examined the figures for typical youngsters, new school-leavers or university graduates, who work in this town in their first jobs.
According to National Housing Federation data, the average salary in Tunbridge Wells for lowest earners is £14,581.60. The average house price in this bracket – the lowest 25 per cent of earners in the town – is £190,000, a massive 13 times the salary.
With buyers needing a ten per cent deposit and securing a mortgage of up to three times their salary, home ownership is out of reach.