• House price inflation leaves the average first-time buyer (FTB) saving for an additional 9-months just to get onto the ladder with the average priced UK home.
  • 71% of aspiring FTBs expect their savings journey will now take significantly longer than originally planned.
  • Nearly two-thirds (63%) have been forced to alter their property expectations or change target locations in the last six months.

For Britain’s aspiring FTBs, homeownership has become a moving target. New market analysis* from Moneybox, the award winning wealth management platform, reveals “The Moving Finish Line”: the additional months buyers must spend saving just to close the gap created by house price inflation.

Analysis of ONS data shows that a typical buyer earning the national average wage and saving 20% of their net take-home pay in 2021 would calculate a 4.5-year timeline to secure a 10% deposit on a standard £228,000 home.

However, by the 4.5-year mark, house price growth would have pushed the cost of that same home £37,250 higher, moving their deposit target out of reach. Even for the most committed first-time buyer, this would leave them facing a £3,541 shortfall on their deposit and another 9 months of saving just to catch up. Moneybox’s analysis assumes a first-time buyer saving 20% of their net take-home pay each month into an account paying 2.00% AER. But where buyers may be earning less interest, saving smaller amounts, or targeting a more expensive home, the “Moving Finish Line” can scale brutally.*

This comes despite savers putting away more than ever. Moneybox’s FTB consumer research shows average monthly contributions have jumped from £344 in 2023 to £475 today, yet many buyers still feel they are falling behind.

Behind the numbers is a generation of buyers watching their timeline to home ownership grow ever longer. In Moneybox’s survey** of 2,000 aspiring FTBs, 71% say their savings journey will now take longer than originally planned, with buyers now expecting it to take an average of 4.5 years to achieve homeownership, up from 4.2 years in 2023. The cost of living (47%), rising house prices (39%) and rent absorbing too much of people’s income (34%) are the most cited reasons for this.

Due to this, nearly two-thirds (63%) have revisited their homeownership plans in the last six months.  Almost half (48%) have pushed back the date they expect to buy, 29% have settled for a less desirable location than they’d hoped for, and a further 29% have scaled down expectations on property features that matter to them – such as size, a garden or off-street parking.

Brian Byrnes, Director of Personal Finance says: “We speak to first-time buyers every day. Most are dedicated to their ambitions and saving habitually, but the frustration is obvious when it feels like the goalposts are constantly shifting. Even with interest rates working in their favour, house price growth is still edging ahead of the average saver.

“The most effective way to outpace the market is to ensure every single pound is working as hard as humanly possible from day one. Utilising a Lifetime ISA is a fantastic way to do this, giving you a 25% boost on your savings paid monthly, which means up to £1,000 of free money from the government every year to help shrink that deposit gap.

“In particular, ideas like paying the government bonus only at the point of purchase would mean savers miss out on years of compounding growth and visible progress. Without that monthly compounding boost actively working for them in the background, buyers will find it even harder to close the gap on a moving finish line, leaving some needing to save for longer just to reach the same goal.

“Revisit your savings goals regularly to make sure house price growth isn’t leaving you behind, but most importantly – don’t be disheartened. The gap is real, but it becomes more manageable once your savings are working effectively for you.”

-ENDS-

Notes to Editors:

*The Moving Finish Line: Market Scenarios Compared

This table outlines how property inflation distorts timelines across different price tiers and income brackets, tracking each scenario from an initial planning date to the real-world finish line. Alternative scenarios can be modelled upon request.

Metric Scenario A: Average Earner – Average Property (Baseline) Scenario B: Average Earner – Mid-Market Property (Mid-Market) Scenario C: Professional Earner (Mid-Tier) Scenario D: Higher Earner (Premium Tier)
Target Property Price £228,000 £300,000 £400,000 £500,000
Buyer Starting Salary (Growing at 5.31% annually) £29,640
(Nat avg Jan 21 £570/wk)		 £29,640
(Nat avg Jan 21 £570/wk)		 £50,000
(Professional)		 £65,000
(Stretch Starting Salary)
Initial 10% Deposit Goal £22,800 £30,000 £40,000 £50,000
Planned Savings Timeline (If prices stood still) 54 Months
(4.5 Years)		 68 Months
(5.7 Years)		 56 Months
(4.6 Years)		 54 Months
(4.5 Years)
House Value Growth (By the planned timeline mark) +£37,250 +£62,978 +£67,966 +£81,688
Deposit Shortfall (At the planned milestone) £3,541 £6,117 £6,355 £7,766
Actual Savings Timeline (To catch the real market) 63 Months 82 Months 65 Months 63 Months
The Moving Finish Line Penalty (Total unexpected delay) 9 Months 14 Months 9 Months 9 Months

Methodology & Modelling Assumptions:

This analysis utilises a dynamic forecasting model to track the savings journey of a single, disciplined first-time buyer against real-world economic indicators starting in January 2021.

    • Property Valuation: Baseline property data is sourced from the official ONS House Price Index. The national average house price of £228,000 grows at a historical Compound Annual Growth Rate (CAGR) of 3.42% (calculated from January 2021 to December 2025). The mid-market comparison utilises a baseline of £300,000 tracking the exact same growth rate.
    • Wage & Career Growth: Starting earnings are anchored to the ONS Average Weekly Earnings dataset, tracking a baseline weekly wage of £570 in January 2021 (£29,640 gross annual). Crucially, to reflect realistic career progression, the model dynamically factors in concurrent wage increases, compounding the salary at an official historical CAGR of 5.31%.
    • Take-Home Pay & Savings Rate: Gross earnings are converted to net take-home pay using a flat 75% multiplier to broadly account for a standard 25% deduction for Income Tax and National Insurance (student loans and workplace pensions are excluded to maintain a clean national baseline). The buyer strictly saves exactly 20% of their net monthly take-home pay (the standard 50/30/20 budgeting rule).
    • Savings Interest: Monthly deposits are placed into a standard savings account earning a baseline interest rate of 2.00% AER, which is applied and compounded month-on-month on the rolling balance.
  • Timeline Metrics:
    • Planned Savings Timeline: Calculates the exact month the saver’s balance would cross the initial, static 10% deposit target if property inflation stood completely still.
    • Actual Savings Timeline: Calculates the exact month the saver’s balance actually intercepts the moving, inflation-adjusted 10% deposit target in the real market.
    • The Moving Finish Line (Delay): The exact number of additional months added to the journey—calculated as the difference between the Planned and Actual timelines—representing the time penalty endured solely to clear the gap created by property inflation outstripping savings growth, fully factoring in wage increases and interest accrued along the way.

**First-time buyer survey

Moneybox commissioned Onepoll to survey 2,000 aspiring first-time buyers in the UK aged 18+. Fieldwork was completed between 4th and 11th June 2026.

Press kit:

High-resolution images and executive headshots are available to download from the Moneybox Press Kit.

About Moneybox:

Moneybox is an award-winning wealth management platform on a mission to give everyone the means to get more out of life. Launched in 2016 by Ben Stanway and Charlie Mortimer, Moneybox has grown rapidly and now supports a community of over 1.6 million customers with more than £18 billion in assets under administration. The platform brings together saving, investing, home-buying, and retirement services—alongside powerful tools and educational content—to help people build wealth throughout life, no matter their starting point.

Moneybox is recognised as one of the UK and Europe’s fastest growing tech companies, acknowledged in the Deloitte UK Technology Fast 50 list for six years in a row (2020, 2021, 2022, 2023, 2024 and 2025) The Times Tech 100 (2025, 2026) and the FT 1000: Europe’s Fastest Growing Companies (2023, 2024 and 2025). In October 2024, Moneybox announced a c.£70m secondary investment valuing the business at £550m, an 84% increase since its Series D round in March 2022.