Deposits take over a year’s income in most of Britain

Deposits take over a year’s income in most of Britain


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Progression of property value with increasing coin stacks and house models.
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In 62% of Britain’s housing markets, the average deposit exceeds the average salary

eXp UK analysed average house price data alongside average annual earnings data across Britain to identify the areas where buyers must save over a year’s salary for a deposit.

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With the average house price in Britain at £272,618 and a typical deposit set at 15%, buyers are required to put down an average of £40,893.

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Meanwhile, the average annual salary across Britain is £40,436, some 1.1% lower than the required deposit.

In London, the average house price sits at £551,294, requiring a 15% deposit of £82,694.

By comparison, the average annual salary is £55,033, meaning a full year’s income covers just 50.3% of the deposit required.

In the South East, the average deposit exceeds annual earnings by 27.5%, followed by the South West at 25.3%, the East of England at 17.1%, the East Midlands at 2.3%, and the West Midlands at 1.3%.

In contrast, buyers in the North East earn an average salary that is 27.1% higher than the typical deposit requirement, while those in Scotland earn 24.8% more than the average downpayment.

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An eXp UK spokesperson says: “If we are serious about improving access to homeownership, the conversation has to extend beyond house prices alone.

“Greater consideration must be given to how buyers can realistically build deposits, whether through targeted support, innovative lending solutions or a sustained focus on increasing housing supply.

“Without that, the gap between aspiration and reality will remain too wide for many households.”

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