26 May

Housing becoming more affordable for key workers

Housing becoming more affordable for key workers

An increasing number of key public sector workers can afford to buy their own homes, according to figures compiled by Halifax.

When house prices peaked in the third quarter of 2007, police officers, paramedics, teachers, firefighters and nurses could only afford to purchase property in three per cent of UK towns.

Halifax's new study, which analysed public sector salaries and first-time buyer house prices, concluded that key workers can now afford to buy in 21 per cent of towns.

With Land Registry figures showing that house prices fell by 16.2 per cent in the 12 months to the end of March, the finding is perhaps not surprising.

However, while Halifax's report may make encouraging reading for key workers looking to get on to the property ladder in the north-west, Yorkshire, Scotland and Wales, the picture is less positive in the south.

Not a single one of the affordable towns is in the south of England, although the bank did note that the position has improved in all regions.ADNFCR-1222-ID-19185346-ADNFCR

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