Revealed: People in these jobs will have to save for 100 years to buy a home

 
Shruti Tripathi Chopra
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Waiters would have to save for 106 years (Source: Getty)

If you work in a bar, school or hair salon, look away now – for a new study has found it could take you a century to get on the property ladder.

According to a list compiled by online estate agent HouseSimple.com, full-time bar staff earning an average annual salary of £13,345 will be able to buy their first house in the UK by the year 2129.

According to the Land Registry, average house price for first time buyers across the UK was £198,309 in April.

It would take a chef 94 years to get on the property ladder, while a nurse will have to save for 91 years to own a home.

HouseSimple's calculations were based on savers putting aside 10 per cent of their net salary every year for a house deposit, and that the maximum mortgage loan they could secure would be four-and-a-half times their gross annual salary.

Read more: The London areas where property prices have increased the most since 2009

Take a look at this table:

Job

Gross annual salary

Maximum mortgage loan of x4.5 salary

Size of deposit for average first time buyer property

10 per cent net salary put aside every year for deposit

No. of years to save required deposit

Bar staff

£13,345

£60,052.5

£138,256.5

£1,235.40

111.9

Waiters

£13,926

£62,667.0

£135,642.0

£1,274.90

106.4

School crossing patrol

£14,053

£63,238.5

£135,070.5

£1,283.60

105.2

Kitchen assistants

£14,067

£63,301.5

£135,007.5

£1,284.50

105.1

Hairdressers

£14,293

£64,318.5

£133,990.5

£1,299.90

103.1

Cleaners

£14,719

£66,235.5

£132,073.5

£1,322.90

99.8

Retail cashiers

£14,689

£66,100.5

£132,208.5

£1,326.80

99.6

Launderers

£14,866

£66,897.0

£131,412.0

£1,338.90

98.1

Shelf fillers

£15,262

£68,679.0

£129,630.0

£1,365.80

94.9

Cooks

£15,341

£69,034.5

£129,274.5

£1,371.20

94.3

Fishmongers and poultry dressers

£15,409

£69,340.5

£128,968.5

£1,375.60

93.8

Telephone sales

£15,548

£69,966.0

£128,343.0

£1,385.20

92.7

Pharmacy assistants

£15,548

£69,966.0

£128,343.0

£1,385.20

92.7

Educational support assistants

£15,598

£70,191.0

£128,118.0

£1,388.60

92.3

Sewing machinist

£15,617

£70,276.5

£128,032.5

£1,389.90

92.1

Nursery assistants

£15,716

£70,722.0

£127,587.0

£1,396.70

91.3

Vehicle cleaners

£16,096

£72,432.0

£125,877.0

£1,422.50

88.5

Teaching assistants

£16,113

£72,508.5

£125,800.5

£1,423.70

88.4

Sales and retail assistants

£16,114

£72,513.0

£125,796.0

£1,423.70

88.4

Sales assistants and retail cashiers

£16,152

£72,684.0

£125,625.0

£1,426.30

88.1

Housekeepers

£16,293

£73,318.5

£124,990.5

£1,435.90

87.0

Theme park assistants

£16,313

£73,408.5

£124,900.5

£1,437.30

86.9

Receptionists

£16,588

£74,646.0

£123,663.0

£1,456.00

84.9

Administration assistant

£16,615

£74,767.5

£123,541.5

£1,457.80

84.7

Alex Gosling, chief executive of HouseSimple, said: “Although house prices have dropped recently, affordability still remains a major problem in the UK. Clearly, no one is going to be saving into the next century to buy a property, but these illustrative figures do provide a stark picture of the struggle many first-time buyers face trying to buy.

“Of course, there are plenty of areas of the country where house prices are within reach of people earning lower incomes and the local prices are much lower than the UK average. However, large swathes of the south of England and London are so far out of reach of low-income earners, that home ownership would be impossible without a big withdrawal from the bank of mum and dad.”

Read more: Check out the London areas where property sales fell the most in 2016

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