Young people with deposits still cannot buy homes

Published: 27 November 2018

"About 40% of young adults cannot afford to buy one of the cheapest homes in their area even with a 10% deposit, according to a new research. The Institute for Fiscal Studies said house prices in England have risen by 173% over two decades. But average pay for 25-34-year-olds has grown by just 19% over the same period. In 1996, 93% of those with a deposit who borrowed four and a half times their salary could purchase a home but that fell to 61% in 2016." Read more