The average deposit for a property has risen 15 per cent in the past year and now stands at over £80,000 according to a mortgage broker.
A typical deposit is now £81,721; the average purchase price for a property is now £252,990 which is 9.3 per cent higher than a year ago.
The data, from the Mortgage Advice Bureau, says a typical buyer’s loan-to-value fell to 68.2 per cent in December, representing an annual decrease of 1.1 per cent.
The broker firm says this is the lowest LTV seen since June 2010, and suggests borrowers are shouldering more of the cost of their house purchase themselves.
The continuing volatility of the market can be seen by other data from MAB, which shows that affordability - based on the typical buyer’s income expressed as a percentage of property price - has been worsening for three months.
In December this stood at 15.3 per cent - a year ago, it was 17.3 per cent.
Mortgage Advice Bureau says it has seen a 2.9 per cent fall in the average salary of buyers from £39,983 in December 2014 to £38,820 last month. In contrast, house prices rose by 9.3 per cent.