Scaffolding covers the exterior of a new apartment complex in Croydon south London, on November 20, 2017. AFP / BEN STANSALL
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London homes are less affordable than ever before, despite slowing price growth and government attempts to cut the cost of housing for first-time buyers.Spiraling values have caused the number of younger buyers in the capital to fall, something that Chancellor Philip Hammond sought to address last week when he abolished stamp duty for first-time buyers of homes worth up to 300,000 pounds ($400,290).London house prices rose an average 3 percent in the year ending October to 496,000 pounds, less than half the 7.7 percent growth rate of a year earlier, Hometrack said. The researcher defined London as the 46 boroughs in and around the U.K. capital.
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