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"A study by the National Association of Estate Agents showed a slump in the number of under-30s buying homes, down to 3pc from 12pc a year ago.
"These statistics and charts, capture the problem for young buyers. The mortgage repayments are relatively affordable but it became slightly harder to get a loan, because of tighter regulations - called MMR- introduced in May.
"Regardless of affordability, prices now tower above wages in a way not seen since the property market peak in 2007 which, combined with threat of interest rate rises, may be making a greater number of twenty-somethings think twice before stretching themselves to get on to the property market."
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