It is taking greater than 11 years throughout the UK for first-time patrons (FTBs) to avoid wasting for a 15% deposit, analysis from Pepper Money reveals.
Using knowledge from the UK Land Registry and ONS median wage figures, Pepper Money says if the typical property worth in 2025 is £269,735 and the median wage is £35,464, a FTB saving 10% of their annual revenue would wish greater than 11 years to avoid wasting a 15% deposit.
The lender explains that the widening hole between wages and home costs highlights simply how difficult it has turn out to be for a lot of to step onto the property ladder, even for disciplined savers.
Some of the tougher areas the place it might take many years to avoid wasting for a deposit embody Windsor. With a median wage of £39,832 and a median home worth of £586,184, patrons face 22 years of saving.
Close behind are North West hotspots, Altrincham (21 years) and Wilmslow (20 years).
The analysis reveals that the rest of the highest 10 is dominated by places within the South of England, the place excessive property costs proceed to outpace salaries.
At the opposite finish of the spectrum, Paisley, North Lanarkshire, and Cumbernauld high the record of best locations to avoid wasting, every requiring solely six years on common.
The solely English city to make this group is Blackpool, the place decrease property costs (common £130,280) and a median wage of £31,089 imply patrons might save a deposit in simply six years.
In many mid-priced areas, FTBs can anticipate a saving interval of round 12 to fifteen years. While Stockport sits on the upper finish of North West saving occasions, it’s solely barely above the UK common.
London commuter cities like Reading, Luton, and Basingstoke present a extra achievable route onto the property ladder for London staff.
Pepper Money explains, saving for a deposit in these areas can take nearly half the time in comparison with central London due to the decrease property costs.
