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
Of course it is. You’re simply refusing to.
You, MP, are personally refusing to pay the pensions of the 99%. You are robbing people, criminal. You are indeed trying to turn is into Greece, Tory.
Keep on accusing me of being what I am not, as you deny being what you are. I don;t need to be creative in my fraud because unlike you I am not a committed scammer and fraudster.
Of course the facts don’t work on you, keep talking up how terrible it is that people don’t pay more than that for healthcare alone! You keep taking up how you’re personally murdering for cash. It’s always murder with you Tories.
Snertly
Apparently your rhetorical skills topped out at the PeeWee Herman level.
Newsbot9
AH yes, so, another LB sock puppet identified. Thanks for that, and no, I am NOT you. Stop claiming it to be so, PeeWee Herman!
LB
There is a big difference between
“Should be paid out of tax”
“Can be paid out of tax”
I know its lost on you, but 7,000 plus of debts, on taxes of 550 bn, and spending of 700 bn, can’t be be paid. The pensions are linked to increases above inflation.
I agree you don’t need to be creative. It’s a blatent fraud that the wonks in parliament, and people like you supporting them, and committing on the poor, the middle class and even the rich of this country,.
Taken other people’s money and enriching yourselves to the detriment of others.
Hence you want even look at the numbers. I’ve some sympathy for that. If you did you would be shitting bricks as to what the victims of the fraud are going to do to the people who’ve stolen their money.
They’ve given it to you, and as one of the chosen, you’ve taken it and left them destitute.
The only solace I draw from it, is that they won’t pay you your pension.
Newsbot9
Ah yes, because you’re cancelling pensions for the 99%.
Keep on talking what you have personally done and are personally doing to ensure pensions are not paid. You keep talking up your murderous rampage, your tendency to spout off like the genocidal loon you are.
You might want to make others shit bricks before you murder them, but I don’t murder at all, so sorry for that.