FTBs must save twice as long than 10yrs ago

Based on data from the Halifax’s statistics database, the Council of Mortgage Lenders (CML) and the Office of National Statistics (ONS), the First Time Buyer Annual Review 2006 tracks housing affordability also reveals the number of first time buyers (FTBs) is the lowest since 1980. The research shows FTBs take five years to save a typical amount of £23,967, for a deposit, equivalent to about 15% of average yearly earnings, compared to ten years ago, when it took just two years to save an average deposit of £5,479. Over the last year, the number of FTBs has fallen 10% since 2004 to just...