A NEW report says more homes are desperately needed in the South Bucks district, which would help bring down property prices for first-time buyers.

The Home Builders Federation [HBF] says house building in communities such as Beaconsfield and Gerrards Cross has dropped by 38 per cent in the last five years.

It says less than half the homes needed are currently being built - pushing prices up to 14 times the average earnings in the district.

Some young families are required to put down a deposit of £50,000 to get a mortgage, the report adds.

Stewart Baseley, executive chairman at HBF said today: “South Bucks is suffering from a serious under supply of housing and lack of affordability. It is crucial that more homes are built, particularly for younger families and first time buyers.”

He said more building in the area could create about 300 jobs, while meeting Government projections would bring in about £500,000 of grant funding.

Average South Bucks house prices have doubled in the last decade, reaching £415,000.

However, a report last year suggested half the homes sold in Beaconsfield were going for more than £1 million.

Beaconsfield’s peaceful setting, plus its rail link to London and excellent schools have made it one of the most desirable locations in the country.

Meanwhile, much of South Bucks is wrapped in Green Belt land, which helps push up house prices by limiting supply.

For all the controversy and opposition to the Pinewood Studios development in Iver Heath –rejected because of its intrusion on to the Green Belt – the project would have created 420 affordable homes.

The research by HBF says just 160 homes were built in the district last year, against a government projection of 360.

Claire Trevien, a PhD student, currently lives between Warwick and Beaconsfield. The 26-year-old said: “I can't imagine ever being in a position to buy anything, especially with about 12k of student loan debts...

“I'm not sure if I would live in Beaconsfield if my parents didn't have their family home there as the cost of living is so high.”

Are you struggling to get on the mortgage ladder in South Bucks? Email: ldunhill@london.newsquest.co.uk or call 01494 755081.