Average house deposit is now £66,000

New research has shown that the average deposit put down by home buyers is now £66,000; the figure has increased significantly in recent years and now is 1.7 times the average annual income in the UK. The research, undertaken by the bank First Direct, shows the size of the average deposit has increased tenfold over the past 20 years. In these tough times for the housing market with the spectre of negative equity and tight lending criteria the new figures show how hard it can be for home buyers, especially first time buyers, to by a property. Significant rise According to First Direct, ...