It appears to be a recurring theme, but pulling together enough for a deposit is still the number one reason first time buyers are held off the first rung of the property ladder, according to the latest data. First timers are constantly making attempts to pay for everyday life with items like petrol, food, and other personal goods pulling at their wallet strings. To save enough for a down payment seems like it is years into the future for many first timers. Help to Buy and other government sponsored programmes make a difference, but it remains a challenge.

The latest data indicates first time buyers are struggling to save enough for a deposit. A recent survey indicates nine out of every ten people vying for a house believes the deposit is clearly out of reach. The numbers paint an overwhelming picture of the lengths first timers are going to save for a deposit.

The number of those living with friends or family members in order to help save for a deposit has risen in recent days. In August 2017, those making an effort to save through living arrangements accounted for 23%.  A few months later in 2018, that number had increased to 27%. Around 30% more indicated they would make changes to their living arrangements if it meant they could purchase a home of their own sooner.

Currently, almost 60% of those in search of a first property cannot afford a down payment as rent payments are outstripping wages.

The challenge continues for those who have found a house for purchase. Almost 50% have had a purchase fall through before finding success with another.

In addition to Help to Buy, other programmes are able to assist those having issues with affordability. Experts suggest living another or partner living to help save. ISAs are also popular. There are Help to Buy ISAs and Lifetime ISAs to assist in saving for a home.