AGE WE BUY OUR FIRST HOME UNCHANGED IN A GENERATION AT 27
- Research by Nested.com reveals that today’s home-buyers are getting on the property ladder at 27 years old – the same age as their parents did 30 years ago
- It comes as nine in ten believe home-ownership is an unachievable goal for today’s young people
- Sixty per cent of parents fear their children will never be able to buy their own home
Nested.com, the pioneering online estate agent, today reveals that while two thirds (67%) of Brits fear they’ll never be home-owners,the age first-time buyers are getting on the property ladder has remained unchanged in a generation at 27.
The latest research exposes the scale of concern that young people may never be able to follow in their parents’ footsteps of buying a property, with nine in ten (89%) believing it’s an unachievable goal.
Yet those who do manage to get on the property ladder are not doing so any later in life than their parents did a generation before.
Nested.com’s research also discovered that 90% of the public think it’s now impossible for the younger generation to buy a home. Of these over half (58%) cite the high price of houses, while a third (33%) blame mortgage lenders for making it so difficult to borrow.
Revealing their attitudes to the property market, one in four (38%) described it as “in crisis” while a third (33%) labelled it “unsustainable”.
Parent also expressed their worries for their kids with six out of ten (59%) saying they feared their children would never get on the property ladder.
Nested.com spokesperson Ben Bailey commented:
“We often hear of younger people’s fears that they won’t be able to buy a home, but Nested.com’s research shows that the dream of home-ownership is still within their grasp. At 27, the first-time buyers of today are exactly the same age their parents were when they took their first steps on the property ladder 30 years ago.”
Kindly shared by Nested.com
