Dave Ford is content with his income and loves his home town of Bath. The trouble is that the huge house price growth seen in the city over the past few years has put buying a property there out of his reach.
The 34-year-old is still renting a room in a shared house, which he says makes him feel as if he is reliving his student days.
“It is simply impossible to buy in the area I want to live in,” he said. “Prices are so high that I would have to take out a minimum 30-year mortgage and spend at least 70-80 per cent of my take-home pay on the repayments.”
Mr Ford earns £25,000 per year working as an IT manager at Bath university. He started saving to buy a house six years ago but has so far failed to build enough to fund a decent deposit.
“House prices have moved faster than I have been able to save. I always thought I could buy next year but over the last three or four years prices have gone berserk,” he said.
Mr Ford knows that delaying buying a property any longer will make it much harder to pay off a mortgage by the time he retires.
“I know the clock is ticking for me,” he said. “I’m terrified at the thought of not having security in retirement.”