Two in five tenants living in rented property believe they will never be able to buy their own home, according to a new report. “Last year, first-time buyers accounted for the majority of the mortgage market for the first time in well over 20 years. This shows that with the right support and a few sacrifices, home ownership can remain an attainable goal. The average deposit for those buying their first home is now £41,099 – just under a fifth of the average house price of £224,709. Ten years ago, the average first-time buyer paid just £138,413 for their property with a deposit of £27,059, Halifax said.

Source: Irish Independent November 03, 2019 09:15 UTC