Generation Rent faces 59 years of saving to buy in London

Ryan Bembridge

April 5, 2017

Generation Rent would typically have to save for 59 years to buy property in London, a Clydesdale and Yorkshire Bank report suggests.

One in three (30%) Londoners aged 18-40 currently aren’t saving at all, with the majority (59%) blaming high rents on preventing them from saving more.

Almost a quarter (23%) have given up on raising a deposit entirely.

Even in the cheapest London borough, Barking and Dagenham, the report said 26 years of saving would be required to secure a 25% deposit.

In the Prime location of Kensington and Chelsea it would take 193 years.

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