Halifax issues affordable homes warning

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Halifax issues affordable homes warning

Halifax has warned that house prices in 70 per cent of British towns are out of reach for key public sector workers.

The high street lender found that key workers have been priced out of 363 of the 517 towns in its survey.

This was up from 338 (65 per cent) in March 2006 and just 185 (36 per cent) in March 2002.

It is likely to add to the pressure on the government to do more to help teachers, policemen, nurses and other key workers get a foot on housing ladder.

"The government's key worker schemes are providing some relief but given recent trends there would clearly be benefits from broadening their reach," urged Tim Crawford, chief economist at the Halifax.

Nurses were the worst-hit with the survey showing that just one per cent of towns were within their reach.

It also appears that the problems is spreading beyond the south of England with 14 of the 61 towns that have moved from 'affordable' to 'unaffordable' over the last five years located in the east Midlands.

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