Research from Boon Brokers, which looked at how long it would take for single people who are renting or living rent-free with family to save for a deposit, found that single earners renting in London and Bristol would find it “impossible” to save for a deposit.
The data looked at average incomes, house prices, property inflation and rent costs as well as average rates of saving.
The report explained that monthly costs outstrip earnings, and renting as a single person assuming average income makes it impossible to buy an average property.
London renters have an average net income of £3,108 per month, which would be split into £2,087 in rent and £1,058 in living expenses, with a deficit of £37 each month.
Looking at Bristol, the average net income is £2,399.30 per month, while average monthly rent and average monthly expenses stand at £1,778 and £882.90. This leads to a monthly deficit of £261.60 each month.
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At one end of the spectrum, in Cambridge, it would take nearly 157 years to save a deposit, while it is around 35 years in Manchester and nearly 34 years in Cardiff.
The most affordable cities were Liverpool and Glasgow, at around 3.38 years and 3.84 years respectively, and Sheffield at 8.6 years.
Number of years to buy a property (renting)
| City | Average property prices | Average gross income | Average monthly rent and expenses | Time frame (years) |
| London | £594,688.00 | £46,904.00 | £3,144.66 | Impossible |
| Cambridge | £493,000.00 | £43,212.00 | £2,662.50 | 157.40 |
| Birmingham | £230,000.00 | £37,908.00 | £1,901.50 | 11.84 |
| Manchester | £249,000.00 | £39,260.00 | £2,212.20 | 35.28 |
| Liverpool | £182,000.00 | £36,452.00 | £1,700.00 | 3.38 |
| Leeds | £240,000.00 | £36,556.00 | £1,949.80 | 20.61 |
| Sheffield | £215,000.00 | £36,452.00 | £1,681.60 | 8.60 |
| Newcastle upon Tyne | £206,000.00 | £35,932.00 | £1,950.40 | 13.95 |
| Nottingham | £199,000.00 | £32,916.00 | £1,742.90 | 10.15 |
| Bristol | £349,000.00 | £35,100.00 | £2,660.90 | Impossible |
| Edinburgh | £289,000.00 | £41,704.00 | £2,326.20 | 37.42 |
| Glasgow | £191,000.00 | £39,364.00 | £2,112.90 | 3.84 |
| Cardiff | £268,000.00 | £36,296.00 | £1,965.70 | 33.99 |
However, Boon Brokers said the overall picture has, in “many cases, already become, or is fast approaching, a mathematical impossibility without external support”.
“These findings highlight a critical structural issue in the UK housing market: the ability to buy is increasingly determined by geographic location and external help, whether that is through family wealth or inheritance, rather than self-projected financial discipline or success. Renting today, particularly in high-demand areas, has created a barrier that is often insurmountable for single people without external support.
“The sad reality is that, for many, decades of careful saving may never suffice. The data indicates that homeownership for single people is becoming increasingly reliant on parental support, gifted deposits, or the unlikely possibility of an extraordinary income growth,” the report said.
Single buyers living rent-free with family see savings boost but still struggle
Boon Brokers said single buyers living rent-free with family have better prospects to save for a deposit.
In London, it would take 16.71 years, while for Bristol, it would take around 13.43 years to save for a deposit.
This was followed by Cambridge at 13 years and Cardiff at 6.84 years.
The most affordable cities were Glasgow at 0.81 years, Newcastle upon Tyne at 3.01 years and Nottingham at 3.05 years.
Number of years to buy a property (living at home)
| City | Average property prices | Average gross income | Average monthly expenses | Time frame (years) |
| London | £594,688.00 | £46,904.00 | £1,058.00 | 16.71 |
| Cambridge | £493,000.00 | £43,212.00 | £889.50 | 13 |
| Birmingham | £230,000.00 | £37,908.00 | £833.50 | 3.46 |
| Manchester | £249,000.00 | £39,260.00 | £895.20 | 4.77 |
| Liverpool | £182,000.00 | £36,452.00 | £836.00 | 1.25 |
| Leeds | £240,000.00 | £36,556.00 | £851.80 | 4.75 |
| Sheffield | £215,000.00 | £36,452.00 | £788.60 | 3.26 |
| Newcastle upon Tyne | £206,000.00 | £35,932.00 | £838.40 | 3.01 |
| Nottingham | £199,000.00 | £32,916.00 | £746.90 | 3.05 |
| Bristol | £349,000.00 | £35,100.00 | £882.90 | 13.43 |
| Edinburgh | £289,000.00 | £41,704.00 | £934.20 | 5.74 |
| Glasgow | £191,000.00 | £39,364.00 | £861.90 | 0.81 |
| Cardiff | £268,000.00 | £36,296.00 | £827.70 | 6.84 |
The report said the research shows that “access to homeownership for single earners today is rarely determined by effort alone”.
“Family wealth, partnership arrangements, and geographic location all play an overwhelming role in dictating a realistic timeline to affordability. Across the UK, the ability to purchase an average property remains heavily influenced by both location and external financial support,” the report said.
Even for those living rent-free, this “does not guarantee an early or easy path into homeownership”.
“While the research shows a dramatic boost to savings, this scenario remains unachievable without substantial family support. Living rent-free in a family home naturally depends heavily on the financial security and wealth of the family, whether through the ability to provide housing or through direct financial gifts,” Boon Brokers said.
Boon Brokers said single earners without gifted deposits, family assistance, or a partner who is able to boost their mortgage affordability are “faced with the reality that homeownership is incredibly difficult to obtain in a meaningful time frame – even with consistent saving from an early age”.
“Inflation and rising living costs compound the challenge, with the ongoing increase in house prices likely to outpace savings for many first-time buyers. In effect, the housing market has become less a reflection of individual work ethic and financial discipline, and more a measure of circumstance. Location, inherited wealth, and family support now play decisive roles in determining whether a single person can realistically buy a property,” it said.
