Generation rent priced out

Prospective first-time buyers will need to earn £64,000 a year by 2020 in order to get onto the property ladder, according to predications by homeless charity Shelter.

Buyers will also need to put down a deposit of £46,000 to secure a home, with prices for a typical first-time buyer home expected to shoot up to £270,000 from the current price of £220,000.

The findings, based on previous academic research and official house price figures, look set to condemn Generation Rent to a lifetime unsecure living.

Campbell Robb, Shelter’s chief executive, said the figures underline the need for investment “in homes that people on ordinary incomes can actually afford to live in”.

About Daniel White
Dan has written numerous articles for Title Sussex. He no longer works for Title Media and has made a confident career in the world of coffee!