First-Time Buyers Are Seven Years Older And Pay 30 Times More For A House Deposit Than In 1960s

The average first-time buyer is now seven years older than in 1960 - and needs to save more than £20,000 extra to be able to buy a home, a study commissioned by Keepmoat Homes has found. Researchers who polled 2,000 adults found a huge difference in the profile of someone buying their first home through the generations. For example, today, first-time buyers will be in their thirties before they get onto the property ladder and pay £20,622 for a deposit. In comparison, in 1960, the average first-time buyer was just 23 years old paying a deposit of just £595 on their first home, 30 times less than the average deposit today. Read more on the Keepmoat website.

http://www.keepmoatcorporate.com/news/firsttime-buyers-are-seven-years-older-and-pay-30-times-more-for-a-house-deposit-than-in-1960s