Young people are increasingly locked out of the property market due to rising prices.
Young people are increasingly locked out of the property market and it takes a person in their 20s seven years to get the money to put down on a house, a report out today warns.
On average across England, a person in their 20s wanting to purchase the average first time buyer home (£175,265) will have to save a deposit of £35,053.
Even saving 33% of their net income it would take them nearly seven years – 83 months – to get the money.
For potential first time buyers in their twenties saving half of their net income it will take on average across England more than 10 years to put together a deposit for their first home, and in London an 24 years.
In 2002, it would have taken 2.5 years, the report by the Home Builders Federation found.
The percentage of income required for a deposit has also gone up.
For those aged between 22 and 29 across England, the average deposit is 229% of net annual salary; and in London it is 300%. For thirty-somethings the average deposit is 176% of net annual salary – in London that figure rises to 232%
London mayor Boris Johnson was criticised last year after figures showed a massive 70 per cent drop in the number of affordable houses built compared to 2011.
38 Responses to “Young people locked out of property market”
Newsbot9
You’re denying your Jihad, which is the really scary thing. You refuse to acknowledge consequences exist. I also don’t bugger anyone, but neither do I use it as an insult, typical of you.
You keep claiming it’s SO terrible the poor have state pensions. That YOU are systematically trying to deprive them of. That YOU are calling the poor stupid. That YOU are trying to make death long, drawn out and expensive for the poor, without the NHS.
And of course you want to murder me. In the tradition of your idealogical heroes, your right wing idols, Hitler, Mussolini, and Franco. The people you are emulating in your Jihad against Britain.
Orwell was right about YOU. Foreigner, fascist, anti-Semite, criminal. Go back to your homeland and stop trying to drag Britain down.
LB
The consequences are there. People will be destitute.
The cause is people like you, taking people’s money and spending it on yourself, and hiding the debts off the books. Section 2, 2006 Fraud act.
Now, you’re response is to laugh at the poor, accuse them of being stupid because they trusted you, but you stole their money to spend on your pay and perks.
When I come along and point out the fraud by the state, you’ve got a problem. Hence your anti-semite accusations, the criminal. …
The foreigner bit, you’ve got wrong, I’m a UK national. So I’m in my homeland, and unlike you, I’m not planing on bailing out. That’s your plan as you’ve posted, taking your money and going.
So the truth comes out, your a racist Labour wonk.
You’re responsible for the mess, along with the Tories, and the Lib Dems, Spending other people’s money on yourselves, making people poor
Newsbot9
Yes, your policies are having consequences, making people destitute. Keep claiming I’m you, it’s more than creepy at this point, it’s nasty.
You’re the one attacking the poor, treating them as stupid fodder for your grist mills. You’re the thief, I’m a private sector worker, who earns his income.
You’re the fraud, unable to concept of doing anything in a different way to your fraud. And now you’re fraudulently claiming to be a UK national as well.
Fraud, fraud, fraud, you’re an expert at committing it. You’re accusing everyone else of your sins again, Tory. Keep on murdering the poor to lower incomes…
LB
The cause is you, and you’re spending on yourself out of other people’s pension contributions.
You’re not a private sector worker. You a Labour wonk, living off other people’s money. You’ve seen the writing on the wall, the state is going to, and is defaulting. Hence you know that your comfortable little living as a parasite on other people’s money is coming to an end.
Here’s the evidence.
http://www.ons.gov.uk/ons/dcp171766_263808.pdf
Page 4. 2 years ago, 5,010 bn off the books. At 2.5% that’s now 5,300 bn
People’s pensions, spent by you on people like you.
End result, pensioners in destitution.
Even worse when you look at what they could have got had the money been invested. That state pension is only 20p in the pound back. 430,000 pocketed by the likes of you, out of their savings, for someone on 26K a year. Even someone on min wage gets their money taken by you.
So unlike you, I’m not escaping with the money looted off the public. It’s people like you.
Newsbot9
Nope, I’m not you.
I’m, in reality, nothing to do with a centralist party, you’re making up nonsense to justify your robbery. You’re the leech, living off unearned income.
You’re advocating not paying pensions, which are paid put of current revenue. The only way this can happen is your REFUSAL to pay! And keep lying about the returns, your attempt to steal even more.
And no, you’re “just” murdering people until you’re paid. Repeatedly. And making up myths about it being other people.