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80% of young people 'intend to own home by 30'
New figures have shown that the majority of
young people want to have bought their own home by the age of 30.
The Building Societies Association (BSA) has conducted a survey that found that 80 per cent of those aged between 18 and 24 aim to have obtained best buy mortgages and properties by this point.
In terms of first-time buyers as a whole, 94 per cent of all age groups
intend to have bought their home by the age of 35 and three quarters want to become a homeowner in their 20s.
Paul Broadhead, head of mortgage policy at the BSA, said it is encouraging that so many young people still aspire to buy property.
He warned: "Consumer sentiment coupled with some perceived barriers is dampening activity in the housing market right now. Undoubtedly, consumers have some fears over long-term job security and unsurprisingly pressure on household budgets is also having a huge effect."
Recent figures published by the Council of Mortgage Lenders showed that the total amount lent out in best buy mortgages during August rose by ten per cent from the same time in 2010.
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young people want to have bought their own home by the age of 30.
The Building Societies Association (BSA) has conducted a survey that found that 80 per cent of those aged between 18 and 24 aim to have obtained best buy mortgages and properties by this point.
In terms of first-time buyers as a whole, 94 per cent of all age groups
intend to have bought their home by the age of 35 and three quarters want to become a homeowner in their 20s.
Paul Broadhead, head of mortgage policy at the BSA, said it is encouraging that so many young people still aspire to buy property.
He warned: "Consumer sentiment coupled with some perceived barriers is dampening activity in the housing market right now. Undoubtedly, consumers have some fears over long-term job security and unsurprisingly pressure on household budgets is also having a huge effect."
Recent figures published by the Council of Mortgage Lenders showed that the total amount lent out in best buy mortgages during August rose by ten per cent from the same time in 2010.
Copyright
Published: 21/09/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.