Bristol families must save for 16 years for first house deposit

Families in Bristol are having to save up over 16 years for a chance to own their home.

Research for Shelter, found the situation dire across the south west region, with waits of up to 18 years just to get the first foot on the property ladder.

Failure to build enough affordable homes by successive governments, is the reason why families are trapped in expensive rental property with no long-term security.

Shelter’s Chief Executive, Campbell Robb, said: “Parents are right to be worried. The reality is that unless we get a grip on the housing shortage soon, children today could spend decades paying out dead money in expensive rents, or living at home well into adulthood with little hope of planning for their own families.

“Successive governments have announced scheme after scheme promising to help first time buyers, but these have just papered over the cracks. The only way to make sure young people have a hope of a home of their own is for politicians to roll up their sleeves and commit to building enough truly affordable homes.”