Property News > The wait time to get on the property ladder shortest in Sunderland

The wait time to get on the property ladder shortest in Sunderland

Those saving for a house in Sunderland are typically able to do so faster than those in other major UK settlements.

Indeed, the research from finder comparison site finder.com found that prospective buyers in the North East city take just six years and eight months to get their deposit together, on
average.

Meanwhile, savers in fellow northern cities Bradford and Hull face a similarly short wait.

By contrast, the longest wait time is in London, with those hoping to buy in the capital typically being forced to save for almost 25 years before they have enough for a deposit.

Jon Ostler, chief executive at finder.com said: “This research hits home the point that having a relatively high wage or living in a city with low house prices doesn’t guarantee a short wait to get on the property ladder.

“If you are planning to move to a new city, or are open to the idea, then it is certainly worth
looking at how long your saving period would be in a few different areas.”

The average city dweller is forced to save for around 12 years to raise a deposit.

Related Articles

Signs of so-called ‘Boris bounce’ yet to appear

As yet, there are no signs of a New Year ‘Boris Bounce’ in the housing sector, withinstructions and asking prices remaining largely unmoved, according to the TwentyCiProperty & Homemover Report ...
View >>

Slow wage growth to blame for limited level of housing affordability

According to new research, housing affordability levels in the UK would be the same as they were in 2007 before the economic crash if wage growth had matched that of ...
View >>

Sluggish rental activity recorded in December

The latest figures reveal that the average UK renter was paying £902 for their property in December, having fallen from an average of £927 throughout the year.Indeed, lettings platform Goodlord’s ...
View >>

Need Help?

Thank you. We will give you a call back as soon as possible!
Name *
Email *
Phone *
When would you like a callback? *