Graduate on 'impossible' task of raising cash for house deposit

Louisa Parish (inset) who lives in Norwich said saving for a deposit at the moment is "impossible". 

Louisa Parish (inset) who lives in Norwich said saving for a deposit at the moment is "impossible". - Credit: Archant

A recent graduate has spoken of her heartbreak at trying to save up for a deposit in the face of the cost of living crisis.

Louisa Parish, 22, graduated from the University of East Anglia last year and set about saving what she could for a deposit. 

But following the news that homes in the East of England have risen by 12.5pc in the past 12 months alone, she has said the task now feels "impossible". 

Ms Parish, who shares her apartment with a friend on Rose Lane, currently pays a total of £1,225 for both rent and bills.

She said: "In terms of buying property, I think young people have it really hard financially in comparison to our parents and grandparents.

“I’ve got a Help to Buy ISA, but the cut-off date for opening one of them closed in 2019 so it's not something future generations will have."