First-time buyers: average target deposit to property price ratio in the UK 2019

The largest barrier for potential first-time home buyers in the United Kingdom (UK) is the ability to raise enough money for a deposit. The Office for National Statistics (ONS) has stated that the average deposit needed for a new home is 44 thousand British pounds, although a survey conducted by Santander suggests the average target deposit by potential first-time homeowners is in some cases far lower.

In the East of England, potential first-time buyers were targeting to have a deposit of eight percent of the average property price in that region. London, the South East and South West of England all saw potential first-time homeowners expecting to be able to deposit under ten percent of the average property price.

Average target deposit to average property price ratio for potential first-time buyers in the United Kingdom (UK) in 2019, by region

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Source

Release date

July 2019

Region

United Kingdom

Survey time period

May 2019

Number of respondents

5,002 respondents

Age group

18-40 years

Special properties

Potential first-time buyers

Supplementary notes

Figures rounded.

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Statistics on "First time home buyers in the United Kingdom (UK)"

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