Seven in 10 first-time buyers forced to delay property purchase

A survey has revealed that 70% of potential first-time buyers have decided to delay their purchases as rising living costs have hindered them from getting a deposit together. Nearly nine in 10 said their ability to save for a deposit has been affected by the rising cost of living, Nationwide Building Society found. People were most likely to say this in Wales and Northern Ireland (98% in both parts of the UK) and in Scotland (93%). The area where people were least likely to say this was London, but the figure there was still 82%. Of the main problems noted by people about buying a home in the area where they live, nearly three in five (57%) said it was high house prices, while 43% said rents were too high to be able to save. 

City AM (04/05/2022)