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Old 30-12-2010, 09:41 AM   #12
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Saving for a deposit on your first home? It could take 17 YEARS

A first-time buyer would have to save for more than 17 years to afford the average deposit on a home, research revealed yesterday.

The average deposit put down by someone buying for the first time has nearly trebled over the past ten years to a daunting £28,770.

Figures from the Office for National Statistics show the average worker in their twenties with a full-time job earns just under £21,000. Saving ten per cent of their take-home pay every month would be equal to putting aside £136.
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