Property

Average age of FTBs unchanged in a generation

Warren Lewis
|
13th August 2019
FTB 777

Newly released research by online estate agent, Nested.com, has shown 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.

The data also revealed that 67% of Brits fear they’ll never be home-owners and exposed the scale of concern among young people who feel they may never be able to follow in their parents’ footsteps of buying a property. 89% believe 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.

Ben Bailey, Nested.com spokesperson, 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.”

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