Single individuals hoping to buy their first home in England face an average saving period of just over nine years, new analysis has revealed. The study, conducted by home-moving comparison site Reallymoving, found that solo first-time buyers need to accumulate an average of £27,315 to cover a 10% deposit and associated upfront costs for a property valued at £250,000.
The comprehensive research, which examined over 40,000 conveyancing quote forms submitted between June 2025 and June 2026, calculated that this sum typically comprises a £25,000 deposit, £1,421 for conveyancing, £462 for a survey, and £432 for removal costs. The saving timeline assumes an individual can set aside 10% of their take-home pay each month, based on 2025 earnings data after deductions for tax, National Insurance, and pension contributions.
Significant regional variations highlight the property price divide across the country. First-time buyers in London face the most formidable challenge, requiring 13 years to save an estimated £47,692. In stark contrast, those in the North East could achieve their homeownership goal in roughly half that time, needing six years and seven months to save £16,763. On average, buyers in southern England are projected to save three years and four months longer than their counterparts in the North.
Government incentives, such as the Lifetime ISA (LISA), can offer some relief, according to the findings. The research indicates that utilising a LISA, which provides a 25% government bonus on contributions up to £4,000 annually, can reduce the overall saving period by 23 months, bringing it down to approximately seven and a half years. The government has announced plans to introduce a new First Time Buyer ISA in 2028, which is expected to remove the current upper age limit for the scheme, though Reallymoving's founder, Rob Houghton, suggested the proposed £450,000 property price cap should be reviewed to better reflect values in London and the South East.
The study also shed light on evolving buyer demographics, noting that 53% of first-time buyers purchased three-bedroom properties or larger over the past year. Reallymoving attributed this trend to the rising average age of first-time buyers, now 34, and changing housing needs. Rob Houghton commented on the findings, stating, “Raising a deposit and covering the cost of moving is still the biggest challenge facing most first-time buyers who don’t have access to financial support from parents and grandparents. With the cost of living and rents so high, putting money aside month after month is increasingly difficult.”