Housing 350% less accessible than decade ago

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Housing market accessibility is now 350% worse than it was in 1996 and first time buyers are using almost half their take home income to service their mortgage, according to the Royal Institute for Chartered Surveyors.

The RICS accessibility index also found that the cost of becoming a homeowner has increased by 8.4% in the year to 20 June 2007. A first time buyer couple on lower quartile earnings of around £26,000...

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