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University Costs Delay Graduates Getting On Property Ladder

Wed, 01 Mar 2006
University costs make it harder for graduates to climb onto the property ladder.

First-time buyers are not faring that well, as the Nationwide and Rics have highlighted.

Graduates face disadvantages trying to get onto the property ladder.

Newcastle Building Society emphasises that from September 2006 universities in England and Northern Ireland are able to charge tuition fees of up to £3,000 a year, a 155% increase in what is paid currently.

In 2006 new students are likely to amass £30,105 in debt, as National Union of Students figures show.

Debt is likely to eclipse the average deposit for a first time buyer home, £23,067.

The Nationwide highlights that high house prices have seen first-time buyer numbers drop off, with few people able to afford a deposit for a first home without help from their parents.

The youngest households are also paying the highest rents, with the oldest paying the least.
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