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Article: Property: raising the property ladder.(ASSET ALLOCATION)
- Article from:
- What Investment
- Article date:
- June 1, 2007
CopyrightCOPYRIGHT 2007 Vitesse Media. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Royal Institution of Charted Surveyors (RICS) has been drawing attention to the dramatic rise in house prices that has taken place over the ten years of Tony Blair's Government. It revealed that house prices have risen by 170 per cent since 1997, with Northern Ireland showing the largest growth, of 240 per cent, while Scotland has experienced a 140 per cent increase. As a result of this rise, the cost of becoming a home purchaser is more than three times as much as when the Labour Government came to power.
Brian Berry, head of public policy at the RICS, commented that 'As house price rises continue unabated, access to the housing market looks like a pipe ...