Buying a house in Bristol? Your deposit is nearly nine times higher than twenty years ago

Bristolians looking to buy a house in the city are having to pay 860% more to put down a deposit than they were twenty years ago, according to the Mayor for Homes coalition.

Their research found first-time buyers are paying nearly 9 times more to secure their house than in 1996.

The average price for even the cheapest houses in the city is now £160,000 compared to just over £57,000 twenty years ago.

The Mayor for Homes coalition says the average deposit needed to buy a house in the city is £28,000. Credit: PA Images

The rate of deposits themselves has also increased.

In 1996 buyers would pay roughly 5% of the value of a property to secure it but now that figure is more like 18% - equating to £28,800 as an average deposit.

Houses in Bristol Credit: Anthony Devlin/PA Images

Kat Hart from the National Housing Federation said: