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Less than half of aspiring first-time buyers expect to own a home
Letting and estate agents signs outside flats on the Old Kent Road in London, October 5, 2015
LESS than half — 48 per cent — of aspiring first-time buyers expect to own a home, according to a new survey published today.
Research by property advice website the HomeOwners Alliance found that 71 per cent of people surveyed who are not homeowners said they want to get onto the property ladder — even though 52 per cent of them believe that this is something that they will never achieve.
Regarding top barriers to this, 60 per cent of the 2,000 surveyed cited high house prices. Saving for a deposit (44 per cent), the ability to afford monthly mortgage repayments (33 per cent) and the ability to get approved for a mortgage (31 per cent) were also highlighted as hurdles.
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