by two years<\/a> to 2023.<\/p>\nMillennials ‘struggle to juggle to rent and saving’<\/h4>\n
The research highlights how hard it can be for \u2018Generation Rent\u2019 to put money aside for a deposit while renting. The national average amount on rent while saving for the Help To Buy deposit is just over \u00a35,000, but again, regional variations apply. At the extreme end of the scale, an eye-watering \u00a338,420 would be needed in Oxford while saving for the 5% required.<\/p>\n
Compare My Move co-founder and director Dave Sayce said: \u201cOur research shines a light on the struggle man young renters face in getting together a deposit for their first home. In many cities it\u2019s a race against rent to save a deposit as a prospective first-time buyer. In cities and towns where rent greatly outstrips the national average, it can take more than a decade for renters in their 20s to save up a 15% deposit.<\/p>\n
\u201cIt\u2019s clear from our research that the Help to Buy scheme acts as an important catalyst for getting renters on the property ladder, and its extension to 2023 in the recent budget will act as a lifeline to generation rent.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
New research is showing that it can take young first-time buyers only a year to save for a deposit with Help To Buy, although the process is much quicker in the north of England and Scotland than other parts of the UK. The data from Compare My Move has revealed that 22 to 29-year olds… Read more »<\/a><\/p>\n","protected":false},"author":3875,"featured_media":15457,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[12,42,6],"tags":[46,331,82,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22024"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/3875"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=22024"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22024\/revisions"}],"predecessor-version":[{"id":6097455,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/22024\/revisions\/6097455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/15457"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=22024"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=22024"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=22024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}