First timers need £33k deposit to get on the ladder

7th July 2017

A study from Halifax shows that first time buyers across the UK need an average deposit of £32,899. The Halifax First-Time Buyer Review found that first timers in Northern Ireland face saving toward the lowest deposit, at an average of £16,457. The figure in London is far higher at £106,577, while first time buyers in Scotland need an average deposit of £21,565. The report also found that the average price paid for a first home is at a record high of £207,693. Across the UK, the number of first-time buyers reached an estimated 162,704 in the first six months of 2017, a figure just 15% below 2006’s peak..

The Independent (01/07/2017)