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Previously on "UK house prices are not overvalued?"
Not sure the comparison of limited stock such as housing can really be compared with milk and chicken which we can now import from Europe so increasing the availability works. Very flawed. You can make figures show anything you want as long as you ignore all the other factors.
Yes houses are overvalued, and they are here in NL too. It's a bit worrying and very difficult for new buyers who'll find that once they've made the monthly mortgage payment they can't even afford a bog standard Lafite Rothschild to drink with their leg of organic local breed leg of lamb.
And how on earth they're going to fuel up the Aston is a mystery to me.
A carton of milk would set a family back by £10 and a roast chicken would have a £51 price tag if food costs had risen in line with house price increases over the last 40 years, research by Shelter has found.
The charity said that the typical value of a house had increased by just over 43 times since 1971, from £5,632 to £245,319.
If a family's weekly shop had increased at the same rate, it would now stand at £453, which is six times the actual figure of around £75.
Applying the house price rate of inflation to everyday food and drink items means that a bunch of six bananas would cost £8.47, a four-pint carton of milk would cost £10.45 and a leg of lamb would be £53.18, Shelter said.
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