London property too expensive for key workers
Buying residential property in parts of London remains the preserve of those working in the professions, a new report suggests.
The Halifax Key Worker Housing Review concluded that home ownership is a realistic aim for an increasing number of public sector workers in the UK.
However, while it found that nurses, teachers and firefighters could afford to buy a home of their own in 21 per cent of UK towns, it was a different story in London.
Despite Land Registry figures showing that the average house price in the capital has fallen to £299,613, Halifax's research revealed that key public sector workers cannot afford to take out a mortgage and buy a home in any part of London.
In fact, five London boroughs - Westminster, Fulham and Hammersmith, Camden, Kensington and Chelsea, and Wandsworth - were named as being among the least affordable locations in the UK for key workers.
To book your free initial consultation with mortgages for professionals click here.
The Halifax Key Worker Housing Review concluded that home ownership is a realistic aim for an increasing number of public sector workers in the UK.
However, while it found that nurses, teachers and firefighters could afford to buy a home of their own in 21 per cent of UK towns, it was a different story in London.
Despite Land Registry figures showing that the average house price in the capital has fallen to £299,613, Halifax's research revealed that key public sector workers cannot afford to take out a mortgage and buy a home in any part of London.
In fact, five London boroughs - Westminster, Fulham and Hammersmith, Camden, Kensington and Chelsea, and Wandsworth - were named as being among the least affordable locations in the UK for key workers.
To book your free initial consultation with mortgages for professionals click here.
