It’s a thorny subject but just how long does it take to save up for a deposit for a house? Taking average house prices for the area, putting aside 10% of average salaries and the amount needed for a mortgage deposit, the experts at House Simple have calculated the average time needed to save for a deposit.
As expected, it would take more than most people’s lifetime to save for a deposit to buy in London. However, Brighton, at 104.2 years takes the crown as the town where it would take longest to save for a deposit.
Hull comes top of the list if you’re in a hurry with a mere 6.1 years to save for the deposit.