Young people are finding it increasingly different to put money away for a house deposit, research has found.
According to Sainsbury’s Finance, 16 per cent of people aged between 25 and 34-years-old are saving less money than they were a year ago and 36 per cent cannot afford to save anything at all.
With the average age of a first-time buyer currently standing at 29, this group need to be saving more to afford the necessary housing deposit, said
“Those saving for a deposit on a property should review any
The firm explained that investing a deposit of £28,000 in an account paying a 6.5 per cent interest rate would accumulate £1,820 in 12 months.
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