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Friday, October 23, 2020

Mortgage for average first-time property in Great Britain needs income of £37,096

Figures covering England, Scotland and Wales show problems of getting on housing ladder

At first glance the housing market appears to be thriving: for sale signs are being replaced by sold signs more quickly than ever, estate agents are reporting a surge in the numbers of would-be buyers signing up and the prices properties are being listed at are continuing to climb.

Things may slow down as parts of the country go into lockdown and housing markets are effectively shut but record low interest rates combined with a stamp duty holiday are putting more money into the system.

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from Property | The Guardian https://ift.tt/2IY5Yl7
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