First Time Buyers Are Struggling To Save Deposits [Infographic]

We’ve produced an infographic about how first time buyers are struggling to save deposits. With thanks to PropertyWire.com for the research that they carried out.

A Quick Overview

  • 36% feel they have no prospect of buying in the next 10 years
  • 73% do not expect to buy before phase two of the help to buy scheme ends in 2017
  • 5% expect to buy in the next 12 months
  • 32% of aspiring home owners are actually saving
  • 19% can’t afford the monthly mortgage payments
  • 62% of first time buyers still can’t afford a 5% deposit
  • 17% actually able to save each month
  • 2 in 3 can’t get the 5% deposit saved
  • Regular savers saving £393 a month for 5% deposit would take 1 year 7 months. £7,792 for the average first time buyers home in the UK and 3 years for London Property.

First Time Buyers Struggle To Save Deposits

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Jonathan Rolande
Author:

Starting in property agency in 1988, I moved into lettings during the early 1990s and in 1998 acquired an estate and letting agency business which is still running successfully. During this time I have helped many hundreds of sellers and purchasers within the property industry, a field in which I am now specialising. Founding member of The National Association of Property Buyers.

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