Most aspiring homeowners ‘confident’ they will own a home by 2021
The majority of aspiring house buyers are ‘confident’ they will one day own their own home.
According to new data from conveyancing services provider My Home Move, 57% remain positive and expect to own their own home by 2021.
However, the survey, which asked questions of 1,000 would-be homeowners, revealed that a ‘missed generation’ of first-time buyers probably exists.
Home ownership levels in England are reported to be at a 30-year low, with almost 50% of people aged 25 – 34 now renting privately.
The private rental sector has grown in size considerably in recent years, but many still aspire to one day own their own home and have the security that comes from owning a home.
My Home Move CEO, Doug Crawford, said: For many Brits the idea of home ownership is still the thing they aspire to the most. It offers security and a sense of achievement in a world that can be fractured and stressful.”
He added: “Of those we surveyed, over a quarter expected to be homeowners by the time they hit their mid-twenties, but unfortunately the reality is very different.”
As property prices have risen, particularly in London and the south-east, would-be buyers are increasingly looking to family or the government to help them fund a deposit. The government’s Help to Buy schemes have proved popular, especially the Equity Loan Scheme – over 10% of aspirational first-time buyers in London are planning to buy their first home through the Equity Loan scheme.
So those who want to buy property have every reason to remain positive, and if you are looking to buy in Highbury & Islington, Stoke Newington or Newington Green, contact local estate agents M&M Property on 020 7704 0664.
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