73% of Renters Feel Blocked from Getting on the Property Ladder

Key Takeaway

A growing share of UK renters feel permanently shut out of homeownership, with high rents eroding their ability to save and pushing the average first‑time buyer deposit out of reach for decades according to research by Skipton Building Society.

Headline Findings

• 73% of aspiring first‑time buyers feel “locked out” of the property ladder.
• 1 in 3 renters save £100 or less per month, implying a 35‑year wait to build a typical deposit.
• The average first‑time buyer deposit is now £41,403 on a £243,883 property (Connells).
• 32% of renters spend 40–60%+ of income on rent — far above the 30% affordability benchmark.
• 94% have made lifestyle sacrifices; 43% say this has harmed their mental health.
• 82% believe that paying rent should count as proof they can afford a mortgage.

Why Renters Are Struggling

1.  High rents blocking savings

• 45% say rent is the main barrier to saving.
• Many are already paying amounts comparable to mortgage payments but cannot accumulate a deposit.

2.  Deposit requirements rising faster than incomes

• With deposits now exceeding £40k, renters starting from zero face decades of saving.
• Rising house prices risk pushing the goalposts further away.

3.  Cost‑of‑living pressures

• 68% feel they are putting life on hold to save for a home.
• Sacrifices include:
  • Holidays (49%)
  • Socialising (45%)
  • Major life plans like marriage or children (20%)

Emotional & Wellbeing Impact

• 35% feel stressed about money all the time.
• 43% say the sacrifices required to save a deposit have negatively affected their mental health.
• Many feel stuck: paying high rent but unable to progress.

What Renters Say Would Help

• 34% want lower deposit requirements.
• 31% want more genuinely affordable homes built.
• 25% want lenders to recognise rental payment history as proof of affordability.
• 24% want more flexible or accessible mortgage options.

Industry Perspective (Skipton Building Society)

Skipton argues that:

• Renters already demonstrate affordability through consistent rent payments.
• Deposit barriers unfairly block otherwise viable buyers.
• Homeownership provides stability, wellbeing benefits, and confidence to progress with life plans.

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