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Homeownership is now beyond the reach of public sector workers in 70% of towns in the UK, according to figures from the Halifax. The figure is up from 65% last year and around 1/3 in 2002.
The Halifax bank surveyed 517 towns and local authorities. First time buyers on average pay 4.46 times their income for their home. A town was therefore classed as unaffordable if the average house price was more than 4.46 times the average wage of key workers, such as police, nurses, fire fighters and teachers.
Although salaries have been rising in line with or ahead of inflation, house prices have increased by about 10% in the last year alone. Over the last 5 years property has more than doubled in value.The problem is worse in London and the South East, but is increasing in other areas. Scotland, Northern England and Wales are the most affordable but even in these regions some towns are out of reach.
In some cases public sector workers do have access to shared ownership schemes and preferential treatment by housing associations. This has caused some resentment amongst private sector workers also struggling to get on the property ladder. However, according to Unions the help on offer is limited and the problem is likely to get worse for public sector workers.
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