First time buyers need to find £10,000 more for deposit

First-time buyers had to find an extra £10,000 to get on the property ladder last year compared with 2019, according to data from Halifax

The average amount new homeowners were required to save increased by 23% (or £10,829) to £57,278. That’s up from an already hefty average deposit of £46,449 the year before.

In London, where first time buyers are increasingly priced-out, the average first time buyer deposits rose by 18% (or £20,211) to £130,357.

In February 2015, ULS Technology plc (LON:ULS) took a 35% share in HomeOwners Alliance, a website offering information and services to UK homeowners and prospective homeowners. Gresham House Strategic PLC (LON:GHS) has a 6.56% stake in ULS Technology.

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