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Will delayed weddings boost the housing market?
73,600 marriages and same sex partnerships have been postponed due to Covid-19, saving couples on average £16,005. With 1 in 8 couples cohabiting before marriage, for most, living together will not be delayed.
Delayed weddings could provide a house deposit for couples wanting to purchase their first home or help existing homeowner move up the ladder.
On average a wedding in the UK costs £16,005, that is 35% of the average first time buyer deposit in the UK in 2019, £46,187.
The proportion of couples living together before marriage has increased from 69% in 1997, 81% in 2007, currently standing at 88%, therefore cohabiting will not be delayed for many.
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