Key workers cannot afford to buy in 70% of towns
Friday, 13 Apr 2007 09:37
Affordability has worsened most for key workers in the town of Truro, in the south-west
Key workers trying to get on the property ladder are priced out of 70% of towns across the country.
That is according to research out today from Halifax, which finds affordability issues are worst for nurses and fire fighters. The average price of a home in 99 per cent of UK towns was out of reach for nurses and 97 per cent for fire fighters.
Additionally, all key public sector workers are priced out of the housing market in London and the south-west, the two most expensive property locations relative to average pay. The town where affordability had deteriorated the most, Truro, was also in the south-west.
However, the south-east leads the table of most unaffordable counties and towns, with the property ladder most out of reach in the county of Surrey, and the top three most unaffordable places to buy Gerrards Cross in Buckinghamshire followed the London borough Kensington & Chelsea and Weybridge in Surrey.
When it comes to where key workers can afford to buy, four of the top five most affordable towns are all in Scotland, with the town of Lochgelly in Fife the most affordable, followed by Bellshill, Clydebank, Wishaw also in Scotland, and Merthyr Tydfil in Wales.
"Housing affordability continues to deteriorate for key workers across Great Britain and it is now clearly not a problem confined to the south of England," commented Tim Crawford, Halifax group economist.
"Nurses face the most difficulties climbing onto the housing ladder but all key worker occupations are likely to struggle to purchase a house apart from in Scotland."