A new survey by Nationwide Building Society has discovered that seven in 10 (70%) potential first-time buyers looking to purchase property in the next year or two have decided to delay their plans because the rising costs of living have impacted their ability to save for a deposit.
Some 93 per cent of people surveyed in Scotland said they had put their house buying plans on hold due to the additional pressures on outgoing finances, with similar percentages for Wales and Northern Ireland - both 98 per cent.
Of the main problems noted by people about buying a home in the area where they live, nearly three in five (57%) said it was high house prices, while 43 per cent said rents were too high to be able to save.
