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ollie plimsolls

First-timers 'need 90pc Of Salary To Buy Home'

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Daily Telegraph

The cost of getting on to the housing ladder has risen to near record levels, thanks to soaring house prices and five increases in interest rates over the last year, a report said yesterday.

A deposit and stamp duty would have taken up 21 per cent of a first-time buyer's annual salary 11 years ago.

The figure now stands at 90 per cent, according to the Royal Institution of Chartered Surveyors (RICS).

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""The Bank of England is expected to keep interest rates at 5.75 per cent when policymakers meet on Thursday. However, the rapid increase in rates from 4.5 per cent a year ago had made buying a home increasingly difficult.""

what a stupid, stupid paper rag....

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