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London Homebuyers Face £44,800 Deposit, 9-Year Savings Wait

1/20/2026

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Summary

Story summary

First-time buyers in London require a deposit of £44,800 for a home, which is more than three times the £13,100 in the North East.
Nationwide Building Society finds it could take nine years to save a 10% deposit in London, versus four years in northern regions.
Mortgage affordability remains difficult for workers, with payments about 50% of take-home pay, though affordability may improve as income growth outpaces house price increases.

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Story summary

First-time buyers in London require a deposit of £44,800 for a home, which is more than three times the £13,100 in the North East.
Nationwide Building Society finds it could take nine years to save a 10% deposit in London, versus four years in northern regions.
Mortgage affordability remains difficult for workers, with payments about 50% of take-home pay, though affordability may improve as income growth outpaces house price increases.