Half of aspiring first-time buyers have turned to side hustles to speed up their savings plans to buy a house, a survey has revealed.
According to Santander, the top way first-time buyers are making extra money outside of their main job is gardening, with 20% earning cash this way.
The next-most popular side hustles are creating and selling personalised items such as cards and bags, selling baked goods and candle making.
The findings reveal how tough the path to homeownership is for first-time buyers, with 78% stating that the cost of housing is the biggest barrier they face, followed by the increased cost of living (75%) and high deposit requirements (59%).
More than three-quarters of those surveyed said the previous generation had an easier time saving for a home.
Despite the challenges, the ambition to own remains a priority, with seven in 10 prospective first-time buyers citing this as a priority.
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As a result, 49% are now combatting affordability struggles, turning to unusual sources of secondary income to boost their deposit.
The average hustler earns £442.62 per month in exchange for an estimated seven hours of work per week. One in 10 hustlers reported earning more than £1,000 per month.
Nearly two-thirds saved most or all of their home hustle income towards building a deposit.
David Morris, director of mortgages at Santander UK, said: “It’s tough out there for today’s first-time buyers, but they’re not giving up or taking affordability challenges lightly. The ambition to own a home remains as strong as ever, with buyer optimism boosted by recent affordability changes and new, higher-LTV products.
“Home hustling is just one-way would-be buyers are boosting their income streams, expediating the time it takes to save for a deposit, stamp duty and legal costs as they take back control of their homeownership journey.”