The average city dweller in the UK will need to save up for 8 years to afford a down payment on a home and get on the property ladder. However, there is a big difference between the cities, and you’ll be able to save for a house deposit far quicker in some.
We’ve calculated how long it takes to save up for a house deposit in 56 cities across the UK. By comparing the average salary in each city with the average local house prices, we’ve worked out how long Brits would take to save for a 15% deposit in their area if they saved 15% of their monthly income in an account with an average savings rate.
| City | Average house price | 15% deposit | Monthly salary after tax | 15% saved per month | Time taken to save for a deposit |
|---|---|---|---|---|---|
| Aberdeen | £134,033 | £20,105 | £2,720 | £408 | 3 years and 11 months |
| Bath | £397,827 | £59,674 | £2,367 | £355 | 12 years and 1 months |
| Belfast | £170,440 | £25,566 | £2,253 | £338 | 5 years and 11 months |
| Birmingham | £235,602 | £35,340 | £2,427 | £364 | 7 years and 5 months |
| Bradford | £183,382 | £27,507 | £2,148 | £322 | 6 years and 7 months |
| Brighton | £428,112 | £64,217 | £2,398 | £360 | 12 years and 9 months |
| Bristol | £366,951 | £55,043 | £2,546 | £382 | 10 years and 7 months |
| Cambridge | £506,724 | £76,009 | £2,765 | £415 | 13 years and 0 months |
| Canterbury | £348,915 | £52,337 | £2,323 | £348 | 11 years and 0 months |
| Cardiff | £273,464 | £41,020 | £2,357 | £354 | 8 years and 9 months |
| Carlisle | £167,507 | £25,126 | £2,423 | £363 | 5 years and 5 months |
| Chelmsford | £378,007 | £56,701 | £2,528 | £379 | 10 years and 11 months |
| Chester | £267,234 | £40,085 | £2,394 | £359 | 8 years and 5 months |
| Colchester | £303,709 | £45,556 | £2,427 | £364 | 9 years and 4 months |
| Coventry | £227,329 | £34,099 | £2,432 | £365 | 7 years and 2 months |
| Derby | £205,905 | £30,886 | £2,559 | £384 | 6 years and 3 months |
| Derry | £168,394 | £25,259 | £2,253 | £338 | 5 years and 10 months |
| Doncaster | £169,116 | £25,367 | £2,149 | £322 | 6 years and 2 months |
| Dundee | £134,380 | £20,157 | £2,293 | £344 | 4 years and 8 months |
| Dunfermline | £169,715 | £25,457 | £2,313 | £347 | 5 years and 9 months |
| Durham | £137,817 | £20,673 | £2,081 | £312 | 5 years and 3 months |
| Edinburgh | £288,354 | £43,253 | £2,663 | £400 | 8 years and 2 months |
| Exeter | £297,592 | £44,639 | £2,265 | £340 | 9 years and 9 months |
| Glasgow | £186,282 | £27,942 | £2,550 | £382 | 5 years and 9 months |
| Gloucester | £234,500 | £35,175 | £2,254 | £338 | 7 years and 11 months |
| Hereford | £287,966 | £43,195 | £2,143 | £321 | 9 years and 11 months |
| Hull | £131,009 | £19,651 | £2,176 | £326 | 4 years and 9 months |
| Lancaster | £192,080 | £28,812 | £2,197 | £330 | 6 years and 9 months |
| Leeds | £244,612 | £36,692 | £2,382 | £357 | 7 years and 10 months |
| Leicester | £228,121 | £34,218 | £2,115 | £317 | 8 years and 2 months |
| Lincoln | £183,213 | £27,482 | £2,259 | £339 | 6 years and 4 months |
| Liverpool | £180,278 | £27,042 | £2,377 | £357 | 5 years and 11 months |
| London | £552,073 | £82,811 | £2,998 | £450 | 13 years and 1 months |
| Manchester | £246,630 | £36,995 | £2,412 | £362 | 7 years and 9 months |
| Milton Keynes | £343,498 | £51,525 | £2,629 | £394 | 9 years and 8 months |
| Newcastle | £211,160 | £31,674 | £2,296 | £344 | 7 years and 1 months |
| Newport | £222,949 | £33,442 | £2,190 | £329 | 7 years and 9 months |
| Norwich | £234,753 | £35,213 | £2,272 | £341 | 7 years and 10 months |
| Nottingham | £194,654 | £29,198 | £2,179 | £327 | 6 years and 11 months |
| Oxford | £479,166 | £71,875 | £2,639 | £396 | 12 years and 11 months |
| Peterborough | £231,927 | £34,789 | £2,237 | £336 | 7 years and 10 months |
| Plymouth | £215,455 | £32,318 | £2,320 | £348 | 7 years and 2 months |
| Portsmouth | £252,285 | £37,843 | £2,500 | £375 | 7 years and 8 months |
| Preston | £180,298 | £27,045 | £2,252 | £338 | 6 years and 3 months |
| Salford | £217,456 | £32,618 | £2,431 | £365 | 6 years and 11 months |
| Sheffield | £221,638 | £33,246 | £2,368 | £355 | 7 years and 2 months |
| Southampton | £235,226 | £35,284 | £2,402 | £360 | 7 years and 6 months |
| Southend | £326,777 | £49,017 | £2,098 | £315 | 11 years and 4 months |
| St Albans | £627,342 | £94,101 | £2,582 | £387 | 16 years and 6 months |
| Stoke on Trent | £147,350 | £22,103 | £2,166 | £325 | 5 years and 4 months |
| Sunderland | £144,169 | £21,625 | £2,170 | £325 | 5 years and 3 months |
| Swansea | £203,678 | £30,552 | £2,279 | £342 | 6 years and 11 months |
| Wakefield | £193,688 | £29,053 | £2,231 | £335 | 6 years and 8 months |
| Wolverhampton | £208,194 | £31,229 | £2,273 | £341 | 7 years and 1 months |
| Worcester | £243,964 | £36,595 | £2,347 | £352 | 7 years and 11 months |
| York | £305,184 | £45,778 | £2,393 | £359 | 9 years and 6 months |
Matt Mckenna
UK Head of Communications
T: +44 20 8191 8806
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