Independent research commissioned by housing charity Shelter and published in June estimates that the average single Briton will have to save for more than 14 years to get enough for a 20 per cent deposit on a property. A young couple with children would need 12 years. In London the figures rise to 29.5 years and 20 years respectively.
Even with help from the government’s Help to Buy scheme, which can provide for a deposit of up to 5 per cent, a home is still out of reach for most. Renting is hardly a viable alternative: latest figures show rents increasing by a huge 3.5 per cent in the last year to an average £737 a month ■