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26/05/2009
Survey reveals growing affordability for key workers |
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The affordability of housing for key workers has improved since the housing market was at its peak level in 2007, a new survey has indicated.
Halifax said its regular study of 493 post towns - including the 32 London boroughs - showed that the proportion of towns where the average price is within the range of the average income for key workers is now 21 per cent.
In 2007, the figure for this group - which includes teachers, nurses, firemen and policemen - was only three per cent.
Such affordability is measured by a price to income ratio and in London this has fallen from almost nine times salary to 6.4 in that time.
Those keen to buy a home in London may wish to see a solicitor to arrange the legal aspects of the transaction.
Figures from the National Association of Estate Agents have shown that the average house purchase in April this year occurred at 6.2 per cent less than the asking price.
Written by Anthony Dyson
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