4 August 2014

Research by the finance website moneysupermarket shows the average first-time buyer needs a deposit of "32,000.

The website says that the number of mortgage deals available has plummeted 60% over the past 12 months, and deposits of 25% or more are required on many deals.

Not surprisingly, only 13% of 18 to 34-year-olds are planning to make their first house purchase within the next year.

The research also shows that 16% of first-time buyers are considering taking out a loan to cover the cost of the deposit.

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