Property News · July 3, 2023

First-time homebuyers now need nearly 10 years to save a deposit, research finds


Rising rents and property prices mean Londoners are flatsharing into their 40s, says Generation RentThe average time it takes to save for a home deposit in England has climbed to almost 10 years underlining the growing unaffordability for first-time buyers, according to new research.The campaign group Generation Rent said in 2012 it would typically take 6.8 years to save for a deposit for a mortgage. However, soaring private rents and higher house prices have added almost three years to that figure, pushing it up to 9.6 years. Continue reading…

Source : theguardian.com
Read more…First-time homebuyers now need nearly 10 years to save a deposit, research finds

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