Research by Scottish Widows shows the sad status quo of graduate first time buyers . 53% of them are not able to get that first footing on the property ladder .
High house prices of course are an obvious reason. 60% consider that they do not make enough to purchase their first home, with almost a third stating that they cannot save enough for a deposit.
Graduate first time buyers average deposit presently stands at £16,218 increasing to £30,184 in London . So even the prospect of purchasing is a distant dream for many.
Debt is also a major problem for graduates. The average student loan debt stands at £9,246, with 1 in 8 considering this as a factor which will prevent them from purchasing a home. Furthermore, debt is such a barrier that 1 in 6 says that they would not have had a student loan whilst at university .
Two thirds of the graduates who have managed to get onto the property ladder have bought with a partner , yet should they split up 68% would not be able to buy the other half out . This figure goes up to 75% for women.
Overall, graduates do not find it easy to get on to the property ladder .
It is very important to be aware of the size of the commitment that is involved when buying with someone else.
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Graduates Not Optimistic About Housing Market
Fri, 06 Oct 2006
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