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The average deposit for first-time buyers has rocketed more than 50 per cent over the last 10 years – even after adjusting for inflation, according to a new study. As homeownership falls further out of reach for first timers, those trying to get on the property ladder must have a deposit of more than £45,500, [...]
Nearly three in every ten home sales went to first-time buyers last month, the highest proportion in over a year, according to new data from various large estate agents. It marks the highest percentage since June 2020, when 29 per cent sales went to people getting on the property ladder, according to estate agents’ body [...]
First-time buyers are saving for an average of four years in order to raise the deposit to get on the property ladder, new research showed today. The number of first-time buyers rose to nearly 410,000 last year with average deposits estimated at around £53,935 but affordability is still being squeezed with house prices estimated to [...]
First-time buyers face the biggest financial hurdle to homeownership causing them to borrow more in 2022. However, it is existing homebuyers that are now more stretched when it comes to their earnings and the amount they are required to borrow. Analysing 2021 data from the Office for National Statistics, shared with City A.M. by estate [...]
While celebrities can often be seen splashing millions of pounds on their first homes, the average first-time buyer (FTB) is spending £223,751 on their first property. In fact, the average FTB needs to find £43,623 more than they did in 2016 to secure their first own property, a 24 per cent increase, according to data [...]
A staggering 70 per cent of potential first-time buyers looking to buy in the next year or two have decided to delay their purchases as rising living costs hit their ability to save, according to a survey. Nearly nine in 10 said their ability to save for a deposit has been affected by the rising [...]
Labour has promised to give first-time buyers “first dibs” on new-builds for six months. The party said it would prevent properties being sold off-plan to developers before locals can buy them, under plans to be set out at its annual conference. It will also state a government led by Keir Starmer would cap the amount [...]
First time buyers paid an average price of £449,000 for a London home, fresh statistics outlined today. Third quarter average prices were down from £478,000 in the second quarter as the market cooled off from pandemic highs, according to the Office for National Statistics. The average advance in the last quarter was £309,339 while the [...]
More properties outside the city were purchased by London-based home buyers this year than in any year since 2007. First-time buyers made up nearly a quarter (24 of Londoners buying outside the capital in 2021, according to the calculations from Hamptons. The estate agent estimates that, in total, buyers based in London purchased more than [...]
First time buyers are facing significant hurdles to raising a deposit as they come up against high prices relative to average earnings. House price growth has surpassed earnings growth over the past year and the ratio of house prices to earrings has hit a record high, the Nationwide House Price Index set out. A 20 [...]
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