How much deposit will first time buyers need in the future?

Introduction

This interactive map shows how deposits required by first-time buyers have increased dramatically over the past two decades, and could rocket again over the next 10 years.

Although the minimum deposit first-time buyers are required to put down can be as little as 5% of the property value, high house prices in many areas of the UK mean much larger deposits are often needed to ensure mortgage payments are affordable.

The map reveals how in some cases buyers are currently already having to save six figure sums to get onto the property ladder. Average first-time buyer deposits could be set to increase by nearly 60% over the next 10 years.

How to use it

See how much first-time buyers have had to put down as a deposit in previous decades and this year by clicking on the relevant years at the bottom of the map. Then click on different cities to see how deposits compare. Clicking on future years and then different cities enables you to see how much first-time buyers may need to save as a deposit if they want to buy in the next five or 10 years.


Figures shown on this map are based on research carried out by Opinium Research, which used data from the Office for National Statistics (ONS) House Price Index to work out the average purchase prices and mortgage advances given to first-time buyers in the UK’s 17 key cities over the past 20 years.

Deposits were calculated by deducting the average purchase price in each city from the average mortgage advance in that area.

Opinium forecast future house price growth based on how prices have risen over the past 20 years, and used this to calculate how much future first-time buyers would need to save as a deposit to ensure mortgage payments remain affordable.

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