First-time buyers 2017: understanding the hopes and concerns of aspiring homeowners

Document type
Report
Author(s)
Marshall, Lydia; Wishart, Robert; Smith, Neil
Publisher
NatCen
Date of publication
4 October 2017
Subject(s)
Housing and Homelessness, Families, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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This report considers the aspirations and expectations of young adults in regards to owning their first home. It was commissioned by the Yorkshire Building Society.

Key findings:

  • Young adults in the UK continue to place important on owning their own home.
  • Potential first-time buyers continue to be fairly optimistic about their prospects of owning a property.

  • However, a lack of economic security and stability has emerged as a barrier to ownership over the last year.

  • Reliance on the 'Bank of Mum and Dad' for help with buying a property is becoming the norm, though people worry about the impact of this on their family’s finances.

The research entailed an online survey of a nationally representative (UK) sample of 1030 18 to 40-year-olds who have never owned a property.

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