Homes ‘more affordable’ for workers

The number of UK towns in which key public sector workers can afford to buy a house has risen by more than 10 times since property prices peaked in 2007, new figures show.

Research by high street bank Halifax found that nurses, teachers, police officers, fire fighters and paramedics can now afford to purchase property in 38% of towns, compared to only 3% in the third quarter of 2007.

However, findings revealed that affordability remains significantly worse than it was a decade back, when key workers on average salaries could afford to buy a home in 64% of UK towns.

According to the study, Nelson in Lancashire is the most affordable town for key workers, with the average property costing 2.1 times the salary of workers such as teachers and nurses.

Source: Assetz