Saturday, April 30, 2016

First time Homebuyers Need 64,000 Salary

First time buyers 'will need £64,000 salary' to afford a house by 2020: Amount needed to soar by a fifth as property prices and meagre pay rises are blamed for the trend 

  • Increase of a fifth on £52,000 needed to secure typical starter home today
  • In London income of £106,000 and £138,000 deposit needed to buy a home
  • Based on average house of first time buyers costing £558,000 by 2020
  • If wages grow at the same pace the average salary will be £29,532 by 2020 

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