London house prices still too high for key workers

Key public sector workers still find it almost impossible to buy homes in London, despite the fall in house prices over the past year.

Figures compiled by Halifax show that key workers can now afford to buy a home in 21 per cent of towns in the UK.

In the third quarter of 2007 those workers could only purchase a house of their own in three per cent of towns, but the bank's report concluded that it was the teachers, paramedics and nurses of northern England, Wales and Scotland who had benefited from declining property values.

Not a single one of the affordable towns was in the south of England, while Camden, Hammersmith and Fulham, and Kensington and Chelsea were named on the list of least affordable areas.

Public sector workers looking for property to rent in Camden or the other London boroughs where purchase prices remain beyond their reach may, however, find they can negotiate a good deal.

A recent report by the Royal Institution of Chartered Surveyors concluded that the cost of both houses and flats to rent in London is falling.

Written by Martyn Glynn

Published 26th May, 2009

© 2009 Estates IT Limited

Latest London Property News Headlines

Southwark to get Dickens statue

Southwark to get Dickens statue

People in flats to rent in Southwark may be pleased to learn that the local council plans to install a commemorative statue installed between Blackfriars Road and Union Street to celebrate the English novelist Charles Dickens' 200th birthday.

Read Article ... Published on 9th February, 2012

Bexley highlights progress on local Olympic planning

Bexley highlights progress on local Olympic planning

People occupying flats to rent in Bexley have been assured that the local council is making good progress in getting ready for the forthcoming 2012 Olympic Games in London.

Read Article ... Published on 8th February, 2012

Colindale's Grahame Park area in line for regeneration funding

Colindale's Grahame Park area in line for regeneration funding

New flats to rent in Colindale could be created if Barnet Council succeeds in efforts to obtain new funding for the regeneration of Grahame Park.

Read Article ... Published on 8th February, 2012

Council announces new parking plans for Fulham

Council announces new parking plans for Fulham

People seeking flats to rent in Fulham will be able to benefit from expanded parking facilities thanks to a new package of measures from the local authority.

Read Article ... Published on 7th February, 2012

Bromley Council approves funding for Biggin Hill Heritage Centre

Bromley Council approves funding for Biggin Hill Heritage Centre

People occupying flats to rent in Bromley will welcome news that £64,000 has been allocated for the development of the new Biggin Hill Heritage Centre.

Read Article ... Published on 7th February, 2012

Harrow unveils new budget plans to modernise local services

Harrow unveils new budget plans to modernise local services

Those occupying flats to rent in Harrow have been promised that local services will be protected or improved under new plans from the regional council.

Read Article ... Published on 6th February, 2012

Borehamwood park to compete for Green Flag Award

Borehamwood park to compete for Green Flag Award

People living in flats to rent in Borehamwood will see their local Aberford Park compete for a Green Flag Award once again this summer.

Read Article ... Published on 6th February, 2012

Plans for new Highbury Roundhouse developments outlined

Plans for new Highbury Roundhouse developments outlined

People in flats to rent in Highbury have seen plans to redevelop the current site of the Highbury Roundhouse community centre take another step forward.

Read Article ... Published on 3rd February, 2012

Improvement programme to be launched for Ruislip Manor shops

Improvement programme to be launched for Ruislip Manor shops

Those occupying flats to rent in Ruislip are set to benefit from a new scheme that will improve the look of shops in the Ruislip Manor area.

Read Article ... Published on 3rd February, 2012

South Kensington's revamped Exhibition Road officially opens

South Kensington's revamped Exhibition Road officially opens

Demand for flats to rent in South Kensington could be set to rise following the official opening of the revamped and redeveloped Exhibition Road area.

Read Article ... Published on 2nd February, 2012

Public sector workers are likely to find that property to rent in London remains a more realistic option than buying a home.

Do you want a Short Let?

Do you want a Commercial Let?



Like this?
Share this
Follow Net-Lettings
Facebook Net-Lettings.co.uk Twitter Net-Lettings.co.uk RSS Feed
Follow Estates IT
Facebook Estates IT Twitter Estates IT RSS Feed

Estates IT offering Estate Agents Software. Lettings Agent Software, Rental Software, Property Management Software.
Net-Lettings.co.uk

Net-Lettings.co.uk was one of the first property and agent directory websites on the internet launched in 1996. We still believe in simplicity today. Use this London Lettings Directory for all your rental property needs whether a Tenant or Landlord.

Subscribe to RSS feed, or bookmark us so you do not miss any London News Articles we publish.

London Areas

London is a diverse community of people. There are many areas to choose from we have around 245 that appear on the map and approximately 338 total London areas. Here are just a few of the latest hot areas.

Letting Agents Docklands
Letting Agents Camden
Letting Agents Notting Hill
Letting Agents St John's Wood

Advertising & Sales

This site offers Letting Agents low cost effective advertising of their web site. We are not a Letting Agency but connect you directly Lettings Agents in your required area. Letting Agents see below options available with Net-Lettings. You can contact or follow us below.

Advertise on this site ...
Register with us ...
Need Estate Agent Software?

Nibbler report