Friday, August 25, 2006

First time buyers out of the ball park

First-time buyer needs over £29,000 savings

The average first-time buyer must now save three quarters of their income to get a foot on the property ladder, new research has claimed. In its first accessibility index the Royal Institution of Chartered Surveyors found a first-time-buyer couple must save 74% of their take-home pay to find the £29,200 needed to meet the upfront costs on a typical home, including the deposit and stamp duty. Anyone surprised?

Posted by tinecu @ 11:29 AM (565 views)
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One thought on “First time buyers out of the ball park

  • Which compares well to the £30,000 of debt that they actually have.

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