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Graham Awards


High-deposit cities may prove rich pickings for buy to let landlords

A league table of UK cities where it takes the longest for first time buyers to save for a deposit may indirectly provide suggestions of strong rental potential for buy to let investors. 

New research by Coulters Property has looked at 50 major cities across the UK and compared the average house prices with the average salary to reveal how long it would take - on average - for a first time buyer to save up for a deposit.

Specifically, this was based on a notional 10 per cent deposit of the average local house price, and how long it would take if 10 per cent of the average local salary was saved each month.


Unsurprisingly London comes out as the worst place to save up for a deposit taking an average of 24 years and 10 months to get on the property ladder - assuming a buyer doesn’t get help from other means, such as their parents.

Oxford and Cambridge aren’t too far behind taking 17 to 20 years.

But there are other, perhaps more surprising entries in the top 10 ‘high deposit’ locations where frustrated buyers are likely to have to rely on private renting instead. 

Brighton and Watford take 15 years or more, while five other locations - Cheltenham, Reading, Slough, Exeter and Bristol - complete the ‘most expensive’ 10.




Liverpool is the easiest place to save up for a deposit, says Coulters, taking just four years and eight months; Stoke-on-Trent isn’t far behind, taking an average of five years and 11 months to get on the property ladder.

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  • George Dawes

    Rent in London , Don't buy

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    Even in places such as Liverpool where property prices are low few of the young will be buying, 15 - 20% deposits now becoming the norm and the average younger person more interested in ''living the life style'' than saving.



    It's funny that the younger they are, the more short term their thinking, whereas we still play the long game, even if we won't be around for the final whistle.

    Another anomaly in the human make up is that, the less time we've got left, the slower we get.

    God sure has a wicked sense of humour!

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    Yes especially in L'pool they love a comfortable life style and property was always cheaper there. I lived there for 6 years as a tenant in many a gaff and at a time when benefits were very little and people were more interested in work.


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