P535 Teletext 535 Sep02 20:06:41
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n5k5k7jwjws & MORTGAGES
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FIRST TIMERS FEEL LITTLE PRICE JOY
But, with the key interest rate now
much lower, the mortgage debt burden on
first-time buyers is not as fierce as
in 1989, according to Nationwide
economist Fionnuala Earley.
■ Mortgage payments now account for 31%
of take-home pay, instead of the 35%
average in 1989;
■ Between 1989 and now, average first
time buyer house prices are up 161%,
with average mortgage sizes up 138%.
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