Average House Deposit Rises To £71,301 – Comment From Rated People

Average House Deposit Rises To £71,301 – Comment From Rated People

The Mortgage Advice Bureau revealed today, that the average house deposit has risen by 0.9 per cent to £71,301 last month. Celia Francis, CEO at Rated People, had this to say on the matter:

“With house deposits increasing again last month, buying a home continues to prove out of reach for many Britons. Rated People’s data reflects the struggle revealing that jobs ordered for bricklayers and builders decreased by almost 8% and 16% respectively, indicating that high house deposits are resulting in fewer people purchasing new homes.

People are instead turning to developing their current homes– in the first half of this year we saw the number of extension jobs posted on Ratedpeople.com double. It appears that rather than purchasing a new, arguably better home altogether, we’re turning to improving our current property and therefore its value.

However extensions are not the only job homeowners should be doing to improve the value of their home. Recent research from Rated People found that two-thirds of Brits say the garden is the deciding factor when buying a property, again highlighting the importance of improving our homes to add value.”

Rated People ambassador, Phil Spencer of Location, Location, Location and Secret Agent adds: “The garden is one of the simplest value-ads to a property – increasing the home’s value by as much as 20%.”

Average House Deposit Rises To £71,301 – Comment From Rated People

Property & Development Magazine

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