Young face 'decades of saving' to buy first home

Independent research commissioned by housing charity Shelter shows that people in their 20s have become locked out of home ownership. Credit: PA Wire

Young people trapped by high property prices face having to save for up to 30 years before they can afford a deposit on their first home, a charity warned.

Independent research commissioned by housing charity Shelter shows that people in their 20s have become locked out of home ownership, meaning a generation will be stuck renting for longer.

The study looked at earnings, house prices, rents and spending on essentials in local authorities across the country to show the extent of the challenge faced by households wanting to save a deposit to buy a home in their area.

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