Home ownership among young people has taken a dive as prices rocket
The proportion of 25 to 34-year-olds on the property ladder has fallen from 59 per cent in 2006 to just 37 per cent and is set to fall to a quarter by 2020.
A single buyer on average salary can only afford a home in 16 out of 348 English and Welsh council districts.
And none are in the south of England, according to Sellhousefast.uk Lone purchasers are priced out of Greater London, the East and the South-east completely as property prices continue to rocket.
The average home costs almost eight times the average earning of £27,500.
The average home in Greater London is £483,803, the East £281,513 and the South-east £316,026 – much higher than in the West Midlands where it is £181,328, the North-west at £152,259, Yorkshire and The Humber on £154,985 and Wales where homes average £148,177.
Sell House Fast’s Robby du Toit said: “Take advantage of every available opportunity. Whether that means raising housing issues locally, or politically to promote change, seek advice from property professionals and attempt to save where possible.
The figure is expected to fall to just a quarter by 2020 More for your money in Margate Mon, July 25, 2016
Margate led a property boom across the north Kent towns that fall within London's commuter orbit
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5 bedroom semi-detached house for sale Cornwall Gardens, Cliftonville, Margate, Kent £425,000
“The recent Government Housing White Paper for England outlines ways first-time buyers will be supported.”
Separate research from the Local Government Association found only 20 per cent of 25-year-olds are homeowners today compared to 46 per cent in 1996.
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