Housing affordability improves for public sector staff

Key public sector staff now benefit from more affordable housing, according to latest research from Halifax.

More than a third of UK towns are now within the price range of key workers based on the house price to average earnings rate.

When house prices peaked in 2020 only around three per cent of workers could afford them but this has now increased dramatically.

However, the majority of homes remain out of reach for key workers on an average wage.

Those included in the key worker category are nurses, teachers, police officers, fire fighters and paramedics.

The findings from Halifax reveal that firemen have seen the largest change, rising from one per cent in 2020 to 28 per cent today.

Nurses have gone from seven per cent of towns being affordable for them in 2020 to 22 per cent in 2023.

Nelson in Lancashire, Lochgelly in Fife and Bootle in Merseyside are the most affordable towns in the UK for key workers.

Nitesh Patel, housing economist at Halifax commented: “In 2001, two-thirds of towns were affordable compared to just a third today. Government schemes to assist low-cost home ownership are welcome, although it remains to be seen how big the impact on key workers will be.”

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