{"id":1517,"date":"2022-12-08T10:45:17","date_gmt":"2022-12-08T10:45:17","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/quilter\/?p=1517"},"modified":"2022-12-08T10:45:20","modified_gmt":"2022-12-08T10:45:20","slug":"first-time-buyer-deposits-keep-rising","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/quilter\/2022\/12\/08\/first-time-buyer-deposits-keep-rising\/","title":{"rendered":"First-time buyer deposits keep rising"},"content":{"rendered":"<div class=\"hd-block hd-block-paragraph\">\n<p><strong>First-time\nbuyers (FTBs) face many obstacles to homeownership in the competitive\npost-pandemic market. Although an increased Stamp Duty nil-rate threshold will\nbe useful, saving for a deposit is still challenging.<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Hefty\nprice tag<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Indeed,\nthe average deposit for an FTB has climbed by 41% (after adjusting for\ninflation) in the last decade<sup>1<\/sup>. That means that, to put down a 15%\ndeposit on an average house, prospective buyers now need to find \u00a341,765. After\naccounting for other expenses such as surveyors\u2019 fees and the cost of moving,\nthe initial price tag can quickly reach \u00a350,000.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Regional\ndifferences<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>In the last decade, the East of England has\nbeen the region with the biggest growth in average\ndeposits (51%), ahead of London (47%) and the East Midlands (47%).<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>The London\nBorough of Waltham Forest has experienced the biggest rise (79%) since 2012,\nwith Barking and Dagenham close behind (77%). Outside London, Thanet has\nrecorded the largest jump (73%).<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><strong>Savings boost<\/strong><\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p>Although the past decade\u2019s low interest rates haven\u2019t made the\ntask of saving any easier, recent rises to Bank Rate could help savers\naccumulate a greater level of interest.<\/p>\n<\/div>\n\n<div class=\"hd-block hd-block-paragraph\">\n<p><sup>1<\/sup>Barrows and Forrester, 2022<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>First-time buyers (FTBs) face many obstacles to homeownership in the competitive post-pandemic market. Although an increased Stamp Duty nil-rate threshold will be useful, saving for a deposit is still challenging. Hefty price tag Indeed, the average deposit for an FTB has climbed by 41% (after adjusting for inflation) in the last decade1. That means that, [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":1518,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,76],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1517"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/comments?post=1517"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1517\/revisions"}],"predecessor-version":[{"id":1519,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/posts\/1517\/revisions\/1519"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media\/1518"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/media?parent=1517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/categories?post=1517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/tags?post=1517"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/quilter\/wp-json\/wp\/v2\/hd_content_source?post=1517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}