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Cost of living in UK 'more expensive than abroad'
The growing cost of being a homeowner in the UK is likely to lead to many people buying abroad in future, an expert has predicted.
Property specialist Julian King said that extra expenses such as home information packs were having an impact on the finances of British property owners.
He added that the issue of falling house prices combined with a shortage of buyers in the market had made the process of trying to sell a house very expensive.
Mr King commented: "It's hardly surprising as owning and even selling a property in the UK has become unnecessarily costly."
He recommended that people looking to set up home overseas should look to make a quick sale rather than risk facing the possibility of other "the property chain breaking".
The comments came in response to a study by HSBC which found that of all the countries that offered a high standard of living, the UK was the third most expensive in the world.
By contrast, a typical annual salary earned in Britain was found to go a lot further in Spain, without the need for a person to compromise on their lifestyle.
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