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Shocking figures reveal the cost of food if it had risen in line with house prices

By Advertorial  |  Posted: February 12, 2013

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A roast chicken would cost a whopping £51 and a carton of milk would be brandishing a £10 price tag had food costs risen in line with the increases in house prices over the last 40 years.

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According to research by charity Shelter, the average value of a house has rocketed by just over 43 times since 1971, jumping from £5,632 to £245,319.

Had food prices kept up with the pace at which house prices have risen over the last four decades, a bunch of six bananas would cost £8.47 and a loaf of sliced white bread would set shoppers back £4.36.

A weekly family food shop would cost a whopping £453 if the house rate of inflation was applied to everyday food and drink items. This is six times the actual average of £75.

Shelter's Chief Executive Campbell Robb said: “The high cost of food is already a real concern for people, so if prices reached these levels there's no way we'd accept it.

“Yet when it comes to the huge rise in the cost of buying a home over the past few decades, somehow this is seen as normal – even welcome – despite the impact it's having on a generation desperate for a home of their own.”

With the sharp rise in house prices, it is perhaps unsurprising that 59% of adults who did not own a home believed they would never be able to afford to buy in their local area.

“With more young people and families priced out, homeownership is already starting to fall, which in turn is driving up the cost of renting,” Mr Robb continued.

“Unless something changes, the next generation will find it even tougher to find a stable and affordable home.”

If you want to get a foot on the property ladder, compare mortgages with MoneyExpert to find the best deals.

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