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Cost of home ownership continues to rise in London

The cost of owning your own home has fallen throughout the country, as it continues to rise in London.


Cheltenham & Gloucester&#39s latest Affordability Index shows Londoners pay £35 out of every £100 of take home pay, an increase of £1.00 on the pervious index.


C & G say the increase in property prices has been more than outweighed by low interest rates, and the modest drop in earnings has been neutralised by tax and National Insurance changes.


C & G managing director Roger Burden says: “Although property transactions have hit their highest level in a decade, this only represents two thirds of the level reached in 1988.”

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