YOUNG PEOPLE hoping to buy a home in Ascot need an hourly wage of £56.06, based on newly released figures.

According to homeless charity Shelter a deposit should be no more than 35 per cent of a person's annual income. 

Ascot is in the top ten most expensive places in the UK to buy a home, with Virginia Water topping the list with a staggering £84.84 per hour needed using Shelter's 35 per cent figure.

To scoop up a property in Ascot with a 20 per cent deposit, and taking a 25 year term with a 2.63 per cent interest rate, you would need to earn over £50 an hour to pay back the mortgage.

Wokingham did not fare much better, with residents needing to earn £34.60 an hour to pay back their mortgage. 

The figures were created by taking into account the average house price, then comparing it with a 20 per cent deposit on a 25 year term. 

The cheapest list was also revealed, with seven out of ten towns in South Wales. 

To find out your local area's hourly wage requirement, head to https://www.web-blinds.com/resources/buying-houses/ and enter your postcode.