New research by The Resolution Foundation shows the average person saving 5% of their disposable income each year must save for 24 years for a deposit to buy their first property - up from just three years in 1997. Commenting on the Help to Buy schemes, Resolution’s chief economist Matt Whittaker, said: “To the extent that these schemes have stoked demand and so propped up house prices in recent years, they have served to make homeownership even less attainable for many, while increasing the gains flowing to older homeowners who have been the main beneficiaries of the sustained housing boom.”
