Nested.com, the pioneering online estate agent, today reveals that while two thirds (67%) of Brits fear they’ll never be home-owners,the age first-time buyers are getting on the property ladder has remained unchanged in a generation at 27.
The latest research exposes the scale of concern that young people may never be able to follow in their parents’ footsteps of buying a property, with nine in ten (89%) believing it’s an unachievable goal.
Yet those who do manage to get on the property ladder are not doing so any later in life than their parents did a generation before.
Nested.com’s research also discovered that 90% of the public think it’s now impossible for the younger generation to buy a home. Of these over half (58%) cite the high price of houses, while a third (33%) blame mortgage lenders for making it so difficult to borrow.
Revealing their attitudes to the property market, one in four (38%) described it as “in crisis” while a third (33%) labelled it “unsustainable”.
Parent also expressed their worries for their kids with six out of ten (59%) saying they feared their children would never get on the property ladder.
Nested.com spokesperson Ben Bailey said, “We often hear of younger people’s fears that they won’t be able to buy a home, but Nested.com’s research shows that the dream of home-ownership is still within their grasp. At 27, the first-time buyers of today are exactly the same age their parents were when they took their first steps on the property ladder 30-years ago.”