More than half of all graduates say they cannot afford to buy a home, a Scottish Widows survey suggests.
More than half of all graduates say they cannot afford to buy a home, a Scottish Widows survey suggests.
High house prices combined with student debts are pushing property ownership out of the reach of many.
High house prices combined with student debts are pushing property ownership out of the reach of many.
One in 10 graduates see the problem as long term, and say they will never be able to afford their own property.
Some 10% of graduates see the problem as long term, and say they will never be able to afford their own property.
Out of those graduates who have bought a home with a partner, 68% said they would not be able to afford to buy the other out in the event of a split.
Out of those graduates who have bought a home with a partner, 68% said they would not be able to afford to buy the other out in the event of a split.
"This leaves graduates in a real catch-22 situation. Do they wait until they can buy on their own, or buy with a partner when they are not quite ready?" said Murdo McHardy, Scottish Widows spokesman.
"This leaves graduates in a real catch-22 situation. Do they wait until they can buy on their own, or buy with a partner when they are not quite ready?" said Murdo McHardy, Scottish Widows spokesman.
"With no exit route in place, graduates need to realise the real commitment of getting on the property ladder."
"With no exit route in place, graduates need to realise the real commitment of getting on the property ladder."
High house prices are the greatest barrier to buying a home, with 60% of graduates saying that they do not earn enough to obtain a sufficiently large mortgage.
High house prices are the greatest barrier to buying a home, with 60% of graduates saying that they do not earn enough to obtain a sufficiently large mortgage.
In addition, almost a third said they could not save enough for a deposit, with many having to pay off a large student debt.
In addition, almost a third said they could not save enough for a deposit, with many having to pay off a large student debt.
Buoyant market
Buoyant market
The most recent housing market data indicates that things are unlikely to get any easier for hard-pressed first-time buyers.
The most recent housing market data indicates that things are unlikely to get any easier for hard-pressed first-time buyers.
On Wednesday, the Halifax said that UK house prices rose by 1% in September and have risen by 8% in the past year.
On Wednesday, the Halifax said that UK house prices rose by 1% in September and have risen by 8% in the past year.
Halifax added that a strong economy and record high levels of employment would "continue to support a healthy housing market over the coming months".
Halifax added that a strong economy and record high levels of employment would "continue to support a healthy housing market over the coming months".
According to the group, the average UK house price is now £181,186.
According to the group, the average UK house price is now £181,186.
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