Average House Deposit UK (2026): By Region, Age & First-Time Buyer
The average UK first-time buyer deposit is around £61,090 — but that’s what people actually put down, not what you need. The minimum is far lower (about £11,300 on a typical first home). Here’s the full picture: average deposits by region, by age, minimum vs typical, and how long they take to save.
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Quick answer
The average UK first-time buyer deposit is around £61,090, according to Halifax’s 2024 data — roughly 20% of the average first home’s price. But this figure is widely misunderstood: it’s the amount buyers actually put down (many choose to put down well above the minimum to access better rates), not the amount you need. The minimum deposit is just 5% — about £11,300 on the ~£226,000 average first-time-buyer home — and plenty of buyers get on the ladder with 5–10%. So there are really two “average deposit” numbers, and confusing them is the single most common mistake: the £61,090 “typical” figure versus the ~£23,000 “10% deposit on a typical home” figure (Nationwide, 2026). Both are quoted as “the average deposit”; they measure different things. The number that matters most is regional, because deposits track local house prices: London first-time buyers put down an average of ~£124,688, the South East around £60,000, but the North East as little as ~£30,000 — a four-fold gap. The average first-time buyer is now 33 (the oldest in two decades) and 62% buy jointly, pooling two deposits. Below: every figure by region and age, the minimum-versus-typical breakdown, and how long a deposit realistically takes to save. As of August 2026.
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In this guide
The two “average deposit” figures explained
Search “average house deposit” and you’ll get wildly different numbers — £23,000 here, £61,000 there — and the confusion is understandable, because they measure two different things. Getting this straight is the key to the whole topic:
- The “typical deposit put down” (~£61,090). This is Halifax’s figure for what the average first-time buyer actually paid as a deposit in 2024 — around 20% of the property price. It’s high because many buyers put down more than the minimum: to access lower LTV rate bands, to borrow less, or simply because they’d saved (or been gifted) more. It reflects choices, not requirements.
- The “deposit you need for 10%” (~£23,000). This is Nationwide’s 2026 figure for a 10% deposit on a typical first home — a more realistic “what do I need to aim for” number, and still above the true minimum.
So when someone says “the average deposit is £61,000,” they’re right — but it doesn’t mean you need £61,000. It means the average buyer chose to put down that much, often because a bigger deposit unlocks a better mortgage. The amount you must have is the 5% minimum, covered below. Keep this distinction in mind through every figure that follows.
Average deposit by region
Deposits track local house prices, so where you buy matters more than any national average. Here’s the regional picture for first-time buyers (Halifax/UK Finance data, latest available; figures vary by source and methodology, so treat as indicative):
| Region / nation | Average FTB deposit (indicative) |
|---|---|
| London | ~£124,688 |
| South East | ~£61,000 |
| East of England | ~£50,000 |
| South West | ~£45,000 |
| West / East Midlands | ~£36,000–£40,000 |
| North West | ~£36,000 |
| Yorkshire & Humber | ~£33,000 |
| Northern Ireland | ~£40,528 |
| Wales | ~£35,572 |
| Scotland | ~£30,551 |
| North East | ~£30,000 (lowest) |
The headline: a London first-time buyer puts down roughly four times what a North East buyer does — because London’s average first home costs around £472,000 against the North East’s ~£139,000, not because Londoners save harder. This is why the single “UK average” is so misleading: the capital’s enormous deposits drag the national figure up, and eight of the twelve UK regions have average first-time-buyer deposits closer to £40,000 or below. If you’re buying outside London and the South East, the real number you need is likely far below the “£61,090 UK average” headline. Our local guides for Leeds, Birmingham and Cambridge show how differently the deposit maths plays out city by city.
Minimum vs typical: what you actually need
Here’s the number that matters if you’re saving: the minimum deposit is 5%, not 20%. On the ~£226,000 average first-time-buyer home, that’s the difference between needing £11,300 and £45,200:
| Deposit % | On £226,000 (avg FTB home) | What it gets you |
|---|---|---|
| 5% (minimum) | £11,300 | 95% mortgage — higher rates, gets you on the ladder |
| 10% | £22,600 | The common “aim for this” target |
| 15% | £33,900 | Noticeably better rates |
| 20% (≈ the “average”) | £45,200 | Strong rates; ~ what the average buyer puts down |
So the gap between “what you need” (£11,300) and “what the average buyer puts down” (£61,090 nationally, or ~£45,200 at 20% of the FTB average) is enormous — and it’s why so many would-be buyers wrongly believe they’re years further from buying than they are. A bigger deposit is better where you can manage it — it drops you into cheaper LTV bands, lowering your rate and monthly payment, and it widens the lenders willing to approve you — but it is not a requirement. The trade-off between “buy now at 5%” and “wait and save to 10–15%” is a real decision, and the right answer depends on your rent, house-price movement and how fast you can save. A broker will model both.
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Average deposit and buyer age
The average UK first-time buyer is now 33 — two years older than a decade ago, and the oldest in over two decades. That rising age is directly tied to the deposit challenge: it takes longer than ever to save, so people buy later. Two related facts from Halifax’s data shape the deposit picture:
- 62% of first-time buyers now buy jointly — two people pooling savings into one deposit, which is increasingly less a lifestyle choice than a financial necessity given deposit sizes. A joint purchase effectively halves the per-person deposit and, as a bonus, roughly doubles borrowing power.
- Family help is common but easing. The “bank of mum and dad” still funds a large share of deposits, though recent data suggests reliance is falling slightly as savings products and schemes improve. A gifted deposit remains one of the most common routes to a first home.
Younger buyers (the Shetlands record the UK’s youngest average, at 27) cluster in low-price areas where deposits are smallest; the oldest average ages are in London and the South, where the deposit mountain is highest. Age and deposit are two sides of the same affordability coin.
How long it takes to save
The uncomfortable data point: Nationwide estimates a typical first-time buyer needs to save around £320 a month for close to six years to reach a 10% deposit (~£23,000) on a typical home — and considerably longer in London and the South. That timeline, more than anything, explains the rising buyer age. Three things shorten it materially:
- The Lifetime ISA. Save up to £4,000 a year and the government adds a 25% bonus — up to £1,000 free annually — toward a first home up to £450,000. Over four years that’s £20,000 saved plus £5,000 free, a genuine accelerant. See our Lifetime ISA guide for the rules and the penalty trap.
- Buying jointly — two savers reach a deposit far faster than one.
- Aiming for 5%, not 20% — targeting the minimum rather than the “average” can bring the timeline forward by years, getting you buying (and building equity) sooner. Our first-time buyer schemes guide covers the low-deposit routes.
How to buy with a smaller deposit
If the “average” feels out of reach, the routes to buying with less are real and widely used:
- 5% deposit (95%) mortgages — the standard low-deposit route, available across much of the market.
- No-deposit and 100% mortgages — a small number of genuine routes exist, usually with family support or a track record of rent payment.
- Shared ownership — buy 10–75% of a home and rent the rest, slashing the deposit needed to start.
- Guarantor and family-assist deals — family security or income helping you buy with less down.
- Deposit Unlock and new-build schemes — 95% lending on new homes that standard criteria might exclude.
- The First Homes scheme — discounted purchase prices for eligible first-time buyers, cutting the cash deposit needed.
The point of the data on this page isn’t to intimidate — it’s the opposite. The “average deposit” is a number inflated by London and by buyers who chose to put down more than they had to. The minimum is far lower, the routes below it are real, and a whole-of-market broker’s job is finding the one that gets you buying with the deposit you actually have.
The bottom line
The “average UK house deposit” of ~£61,090 is real but routinely misread: it’s what buyers put down, not what they need, and it’s dragged upward by London’s ~£124,688 average against the North East’s ~£30,000. The number that matters for you is the 5% minimum — around £11,300 on a typical first home — and the regional figure for where you’re actually buying. With the average first-time buyer now 33, 62% buying jointly, and a 10% deposit taking close to six years to save, the deposit is the real barrier to homeownership — but it’s a lower barrier than the headline “average” suggests. Aim for the minimum that gets you a workable rate, use a Lifetime ISA and any scheme you qualify for, and check the real number for your situation rather than the national average.
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Average house deposit: FAQs
What is the average house deposit in the UK?
The average UK first-time buyer deposit is around £61,090, according to Halifax’s 2024 data — roughly 20% of the average first home’s price. However, this is what buyers actually put down, not the minimum needed: many choose a larger deposit to access better mortgage rates. The minimum deposit is 5%, about £11,300 on the ~£226,000 average first-time-buyer home. A separate commonly-quoted figure, ~£23,000, is Nationwide’s estimate for a 10% deposit on a typical home. All are “average deposit” figures measuring different things, which is why the number varies so much between sources.
How much deposit do I actually need to buy a house?
The minimum is 5% of the property price — about £11,300 on the ~£226,000 average first-time-buyer home, or £14,250 on the ~£285,000 all-buyer average. Most lenders offer 95% mortgages, so 5% genuinely gets you on the ladder, though at higher interest rates than a larger deposit. A 10% deposit (~£22,600 on the average first home) is a common target that unlocks better rates, and 15–20% improves them further. The “average” deposit of £61,090 reflects what buyers choose to put down, often well above the minimum — you very likely need less than that headline suggests.
What is the average first-time buyer deposit by region?
It varies enormously with local house prices. London first-time buyers put down an average of around £124,688, the South East roughly £61,000, and the East of England around £50,000. At the lower end, the North East averages about £30,000, Scotland £30,551, Wales £35,572, the North West and Midlands around £36,000–£40,000, and Northern Ireland £40,528. A London buyer therefore puts down roughly four times a North East buyer — driven by house prices (London first homes average ~£472,000 versus ~£139,000 in the North East), not saving habits. Figures vary by source and methodology, so treat them as indicative.
What is the average house deposit in London?
Around £124,688 for first-time buyers, according to Halifax data — more than double the UK average and roughly four times the North East figure. This reflects London’s average first-home price of around £472,000; even at a relatively modest deposit percentage, that translates to a very large cash sum. Some analyses put the London first-time-buyer deposit even higher, around 34% of property value, reflecting buyers stretching to larger deposits to keep loan sizes manageable. It’s the single biggest reason London has among the oldest average first-time-buyer ages in the UK — the deposit simply takes longer to assemble.
How long does it take to save a house deposit?
Nationwide estimates a typical first-time buyer needs to save around £320 a month for close to six years to reach a 10% deposit (~£23,000) on a typical home — and considerably longer in London and the South East. This lengthy timeline is the main reason the average first-time buyer is now 33, the oldest in over two decades. It can be shortened by using a Lifetime ISA (which adds a 25% government bonus, up to £1,000 a year), buying jointly to combine two savers’ efforts, or targeting a 5% rather than 20% deposit to get on the ladder sooner.
What is the average age of a first-time buyer?
33, according to Halifax’s latest data — two years older than a decade ago and the oldest in over two decades. The rising age is directly linked to the deposit challenge: as deposits have grown relative to incomes, it takes longer to save, so people buy later. Around 62% of first-time buyers now purchase jointly, pooling two deposits, which is increasingly a financial necessity rather than just a lifestyle choice. Average ages are highest in London and the South, where deposits are largest, and lowest in more affordable areas such as parts of Scotland.
- Lloyds Banking Group / Halifax — First-time buyer press releases (deposit, age and regional data, 2024–26)
- Unbiased — Average first-time buyer deposit (UK Finance data)
- MoneyHelper — free, government-backed money guidance
Important information
nextmove is an introducer, not a lender or adviser. This article is for general information only and does not constitute financial advice. The deposit, age and regional figures are drawn from published Halifax, UK Finance and Nationwide data (2024–2026) as cited; different sources use different methodologies, dates and definitions, so figures are indicative and vary — always check current data and your own circumstances. Minimum deposits, rates and lender criteria change. Your actual deposit requirement depends on the property, your credit profile, income and the lender. We introduce you to FCA-regulated, whole-of-market mortgage brokers who can advise, and we may receive a fee or commission for doing so.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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