Editor's note: This brief was summarised by The Property AI Newsroom from a report by PropertyWire. Read the original article for full details.

Solo First-Time Buyers in England Face Nine Years of Saving for Deposit

Solo first-time buyers in England require an average of 113 months to save for a deposit and upfront costs, according to analysis of over 40,000 conveyancing quote forms. The research, conducted by home-moving comparison site Reallymoving, examined data from 40,454 conveyancing quote forms submitted between June 2025 and June 2026.

The findings show that solo buyers need to accumulate £27,315 to secure a property at the average first-time buyer price of £250,000. This sum includes a 10% deposit of £25,000, average conveyancing costs of £1,421, a survey costing £462, and removal costs of £432. The calculation assumes buyers can save 10% of their take-home pay each month, based on ONS Annual Survey of Hours and Earnings 2025 data after deducting 25% for tax, national insurance, and pension contributions.

Regional Variations in Saving Timelines

The data highlights significant regional disparities. First-time buyers in London face the longest saving period, requiring 13 years to raise £47,692 for a property purchase. In contrast, buyers in the North East need approximately six years and seven months to accumulate £16,763. On average, buyers in southern England must save three years and four months longer than those in the north, reflecting the ongoing property price divide between regions.

Impact of Government Incentives

The research found that using a Lifetime ISA (LISA) reduces the required saving period by 23 months, bringing it down to approximately seven and a half years. The LISA allows eligible savers aged 18 to 39 to contribute up to £4,000 annually and receive a 25% government bonus. The government has announced plans to replace the LISA with a new First Time Buyer ISA in 2028, which will remove the upper age limit.

Changing Buyer Demographics

The study also found that 53% of first-time buyers purchased three-bedroom properties or larger during the past year. Reallymoving attributed this trend to the rising average age of first-time buyers, now 34, and changing housing requirements.

The findings come as mortgage rates have recently declined, though substantial deposit requirements remain a significant barrier to property ownership for solo buyers without family financial support.