Typical first time buyers will need to earn £51k a year by 2020, new research by housing and homelessness charity Shelter shows. This is more than 30% more than the £38k needed for a typical first time buyer’s mortgage today.
On top of this they would need a typical deposit of £47,000 to keep up with rocketing house prices in the region, which are projected to rise to £236,000 over the...
