She said the Government bonus \u201ccan still significantly shorten the time it takes to build a deposit\u201d for those confident they will buy within the scheme\u2019s rules, adding that the product \u201cdoesn\u2019t automatically become a bad option\u201d under the changes.<\/p>\n
\u201cSaving for a deposit is rarely about finding the perfect account or making huge sacrifices,\u201d Ms Graham said.<\/p>\n
\u201cMost people struggle because of small, everyday habits that add up over time. What matters most is choosing a savings route that fits your goals and sticking with it consistently.\u201d<\/p>\n
Nathan Emerson, chief executive of estate agency group Propertymark, said the six\u2011year saving timeline shows \u201cjust how significant the deposit barrier remains, especially in London and the South of England\u201d.<\/p>\n
![\"First](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/first-time-buyer.jpg\")
Getting on the property ladder remains a serious challenge for first\u2011time buyers<\/p>\n
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GETTY<\/p>\n
Regional differences<\/p>\n
\u2022 Inner London: \u00a344,800 deposit \u2014 around nine years of saving<\/p>\n
\u2022 Outer London: \u00a332,800<\/p>\n
\u2022 Outer South East: \u00a326,300<\/p>\n
\u2022 South West: \u00a324,700<\/p>\n
By contrast, the north east offers the most affordable route onto the ladder, with deposits averaging \u00a313,100 \u2014 achievable in around four years.<\/p>\n
Scotland follows at \u00a313,900, Yorkshire and the Humber at \u00a315,400, and Wales at \u00a317,300.<\/p>\n
![\"First](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/1770295148_610_first-time-buyer.jpg\")
House prices have remained broadly flat over the past year<\/p>\n
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GETTY<\/p>\n
House prices have remained broadly flat over the past year, giving savers a chance to catch up.<\/p>\n
Andrew Harvey, Nationwide\u2019s senior economist, said affordability constraints had eased \u201csomewhat\u201d thanks to earnings growth and falling mortgage rates.<\/p>\n
Mortgage rates have also been dropping, with some lenders offering 10 per cent deposit deals at rates as low as 3.96 per cent on two\u2011year fixes.<\/p>\n
First\u2011time buyer activity rose 20 per cent last year compared with 2024, and lenders have loosened affordability criteria, allowing buyers to borrow more with smaller deposits.<\/p>\n
Nearly half of first\u2011time buyers in December opted for mortgages requiring only a 10 or 15 per cent deposit.<\/p>\n
The Lifetime ISA offers a 25 per cent government bonus worth up to \u00a31,000 a year on savings of up to \u00a34,000. Savers can contribute until age 50, provided they opened the account before turning 40.<\/p>\n
Ms Graham said the reforms make it even more important for savers to be realistic about whether a Lisa suits their circumstances.<\/p>\n
\u201cA Lisa is best suited to people who are reasonably sure they\u2019ll buy a qualifying property and won\u2019t need to dip into their savings early,\u201d she said.<\/p>\n
\u201cIf there\u2019s uncertainty around location, price limits or timing, it can be sensible to balance a Lisa with high\u2011interest savings accounts or regular saver products, which offer more flexibility.\u201d<\/p>\n
![\"First](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/02\/1770295148_807_first-time-buyer.jpg\")
Areas in the north remain more afffordable<\/p>\n
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GETTY<\/p>\n
She added that consistency matters more than chasing quick wins. \u201cAutomating savings, reviewing regular spending and increasing contributions gradually as income grows can make the process feel far less daunting,” Ms Graham said.<\/p>\n
“Combining steady saving habits with targeted tools like a Lifetime ISA often matters more than chasing short\u2011term wins.\u201d<\/p>\n
\u201cUltimately, getting the keys to a first home isn\u2019t about one perfect product.<\/p>\n
\u201cIt\u2019s about understanding what\u2019s getting in the way, making realistic changes, and using incentives like the LISA thoughtfully so saving feels manageable, not overwhelming.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Getting on the property ladder remains a serious challenge for first\u2011time buyers, with new research from Nationwide revealing…\n","protected":false},"author":2,"featured_media":268968,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,87770,300,152718,111,43,139,69,244,245,4578,51066],"class_list":{"0":"post-268967","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-isa","11":"tag-money","12":"tag-nationwide-building-society","13":"tag-new-zealand","14":"tag-news","15":"tag-newzealand","16":"tag-nz","17":"tag-personal-finance","18":"tag-personalfinance","19":"tag-savings","20":"tag-sgg"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/268967","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=268967"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/268967\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/268968"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=268967"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=268967"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=268967"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}