Cost of own­er­ship drops six per cent

Yorkshire Post - Property - - PROPERTY -

The cost of own­ing and run­ning a home in the UK has de­clined by six per cent over the past two years, ac­cord­ing to new re­search by Hal­i­fax. Be­tween April 2008 and April 2010, the av­er­age an­nual cost as­so­ci­ated with own­ing and run­ning a home fell by £544 from £9,564 to £9,020.

In real terms (af­ter al­low­ing for re­tail price in­fla­tion), the cost of hous­ing has fallen by nine per cent.

Hous­ing costs in the UK are now equiv­a­lent to 27 per cent of gross av­er­age full-time earn­ings, down from 30 per cent in 2008.

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