Graduates struggle to buy homes

13 February 2006
A third of graduate first-time buyers have to rely on the bank of mum and dad to fund the initial deposit for a home, according to the latest research.

This is despite the fact that many graduates live at home when they first leave university while they apply for jobs, found the Scottish Widows Bank survey.

Murdo McHardy, of Scottish Widows, said: "It is clear that there is an ongoing struggle for graduates to take that first step onto the housing ladder and, with house prices at historically high levels, it’s not getting any easier."

Mr McHardy went on to say that even those graduates that had been working for several years often needed financial help from their parents when looking to purchase a home.

Furthermore, graduates are not optimistic about the housing market, with one in seven saying they would get married before buying a house.

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