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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:
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.
Over the decades since 1969, house prices for first time buyers have increased by 48 times, far out-pacing incomes which have only grown 29 times. If first time buyer house prices and incomes had increased
The English Housing Survey is a national survey of people's housing circumstances and the condition and energy efficiency of housing in England. It was first run in 2008-09. Prior to then, the survey
The current government is determined that more people have the opportunity to buy their own home, and is keen to ensure first time buyers find it easier to take their first steps onto the property ladder.
In December 2014, the Prime Minister David Cameron announced a new scheme aimed at providing affordable Starter Homes, exclusively to first-time buyers under 40 as part of the Government’s strategy
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