Leeds Building Society Unveils Fictitious City to Showcase Difficulties Facing First-Time Home Buyers

Leeds Building Society has created the city of Losthaven as part of a new campaign to capture the public imagination and capture the voice of a generation of lost first-time buyers.

Over the next five years, the Society estimates as many as 426,000 first-time buyers, equivalent to 233 people per day, will be priced out of the UK housing market, reinforcing the need for action to protect the future of homeownership for generations.  

In collaboration with MSQ's creative studio Brave Spark, Leeds Building Society has unveiled Losthaven, a fictitious city filling up fast with unseen first-time buyers. Aligned with the Society's report, every day 233 people are priced out of the UK housing market, and in turn they join the growing population of Losthaven.

Work includes outdoor activity introducing Losthaven with a live population count, showcasing the growing population of the city. A stark reality that if nothing changes now, over the next five years this will grow to a city the size of Cardiff, Leicester or Coventry.

The work first went live with a special Losthaven build at Manchester Piccadilly station near the Conservative conference, before moving to Liverpool for the Labour conference.

As part of the activation, the Society is also encouraging the lost generation of first-time buyers to share their personal experiences on ‘Greetings from Losthaven’ postcards which will be collected and shared directly with Government. The activity is intended to amplify the combined voices of those in Losthaven, making first-time buyers feel seen and give them a platform to be heard.

To help ensure the lost generation can leave Losthaven, and find a real place to call home, the Society will continue to work together with policy makers and politicians to make sure homes are more affordable, accessible, and available.

“Losthaven” demonstrates Leeds Building Society’s purpose-led strategy – putting home ownership within reach of more people, generation after generation – and continues the Society’s campaign, which began in 2022, calling for significant policy changes in the UK housing market, including the building of more homes, increasing affordable routes to homeownership and supporting people to save for deposits.

Rebecca Dye, Leeds Building Society head of brand, said, “As a brand who believe every generation deserves a place to call home, Leeds Building Society is demonstrating its commitment to putting homeownership within the reach of more people. We are speaking up for the people of Losthaven, and standing by them with actions, not words.”

Rebecca Vickery, managing director of Brave Spark, said, "Given the severity of the housing crisis and the need for urgent action, our creative ambition with the launch of ‘Losthaven’ is to empower first time buyers to share their voices and join a conversation about their future”.