By Daniel Hunter
A new report released by the Building Societies Association (BSA) shows that one in four prospective first-time buyers believe it will take them at least 10 years to have a deposit in place.
The BSA survey has suggested that pessimism remains in the market, despite a 34% rise in lending in the mutual sector.
The findings contrast with the view of the Council of Mortgage Lenders, who last week predicted a more "positive" year in the housing market.
The quarterly property tracker conducted by the BSA found one in five first-time buyers believed they would still be renting or living with family in 2022.
It said that before the financial crisis of 2008 hit, 88% of first-time buyers were able to raise a deposit in five years of less, but at the end of 2012 just 62% felt they would be able to save for a deposit in five years.
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