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The Independent UK
The Independent UK
Business
Holly Williams

Homes more affordable but borrowers stretched by rising mortgage costs – Halifax

Halifax Kim Kinnaird Interest Rates
PA Archive

The cost of a typical house is 6.7 times average earnings in Britain despite the recent slowdown in the property market, according to new figures.

Mortgage lender Halifax said this is down from a record high of 7.3 times average earnings last summer, when a UK home cost an average £293,586 and the average annual salary of a full-time worker was £40,196.

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