Pub­lic sec­tor cuts im­pact on prices

Yorkshire Post - Property - - PROPERTY -

Prop­erty prices in ar­eas with high rates of pub­lic sec­tor em­ploy­ment are set to take a dis­pro­por­tion­ately hard knock over the com­ing months.

With heavy pub­lic sec­tor job losses pre­dicted, prop­erty web­site Zoopla.co.uk has ex­am­ined where house prices in Eng­land and Wales are likely to be hit the hard­est.

Top­ping the list of lo­cal author­ity ar­eas most likely to be neg­a­tively im­pacted is Ox­ford, where al­most half of all work­ers (46 per cent) are em­ployed in the pub­lic sec­tor.

Not far be­hind, and also likely to see fall­ing houses prices, are Cam­bridge, Mid­dles­brough, Hast­ings, Can­ter­bury, Stafford and West Dorset – all ar­eas where the pub­lic sec­tor ac­counts for over 40 per cent of the work­force.

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