Gosport ‘cheapest place to buy’

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GOSPORT is one of only two towns in the south to make it on to a list of the most affordable places to live.

Halifax Key Worker Housing Review revealed the town is one of the cheapest for properties in the region.

Only Clacton-on-Sea, in Essex, joins it on the affordable list.

According to the report, four in 10 towns are now affordable for nurses, teachers and other key workers, compared with 2007 when there were just 12 towns.

However, the figures are yet to return to the level of a decade ago when more than half of towns were affordable.

Martin Ellis, housing economist at Halifax, said that growth in earnings coupled with house price declines accounted for the recovery.

The affordable towns list, which is based on locations where average house prices are below four times the average earnings for key workers, is dominated by northern locations.

Mr Ellis said: ‘The greatest concentration of this improvement has been in northern England, Wales and Scotland but there are still considerable affordability issues for key workers in the south east.’