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Youngsters expect to be 40 before buying home as many are forced to rent or live with parents

Daily Mail
Youngsters expect to be 40 before buying home as many are forced to rent or live with parents - property buyer - first time buyer - United Kingdom


First-time buyers expect to save up to the age of 40 before they can purchase a home, a study has found.



The age of the average first-time buyer has rocketed over the past 50 years with high property prices forcing the young to rent or to live with their parents, the report reveals.

In the 1960s, the average first-time buyer was aged 24. This rose to 28 in the 1980s but now many young people say they do not expect to be able to buy until they are 35.



In some regions the average was even higher, with aspiring buyers in Scotland and the North East saying they will be 40 before they can buy their own home.

Those in the East Midlands said they expected to be 39, those in the West Midlands said 29 while in London the average was 33.

The study asked around 1,300 homeowners the age at which they had bought their first property, before asking around 600 prospective first-time buyers at what age they expected to be able to buy.





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