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Over the past decade, the average deposit put down by a first-time buyer has soared by more than 50% with the typical person putting down an average of £45,569 when taking their first step onto the property ladder, according to Stipendium. This is a 54% increase compared to first-time buyer deposits 10 years ago and a 40% rise in the past 5 years alone.

The typical deposit first-time buyers need to have saved in order to secure a mortgage has also increased from 17% of their home’s value to 20%.

This huge jump in the size of deposits comes from the ever-increasing rise in house prices – 10 years ago, the typical buyer put down a 17% deposit where the property cost around £138,973 compared to today where the typical first-time buyer property now costs around £227,846.

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