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.