Survey: 33% Not As High Up Property Ladder As They’d Like
Norfolk block management professionals might want to take a look at new research revealing that 33 per cent of homeowners are not as high up the housing ladder as they would have liked to be at their stage in life.
Conducted by Lloyds Bank, the study found that 36 per cent of first-time buyers had hoped to achieve their property aspirations by the time they reached 45, but 83 per cent now believe that homeowners will have to wait much longer in order to attain their long-term family home than ten years ago.
However, despite delays, people do seem to be optimistic about getting on the property ladder. In all, 44 per cent believe that their long-term home is achievable, while 18 per cent think that it will be better than their childhood house. And 36 per cent hope to reach their housing aspirations when they reach 45.
The most popular house is a three-bedroom, with 24 per cent looking to have a four-bed property. Other aspirational features to a house include nice gardens, high quality bathrooms and kitchens, and conservatories.
“Many current homeowners clearly still feel that they are not progressing up the ladder as quickly as they would like, with higher house prices in some regions meaning people are waiting longer to move into to their long term family home,” mortgages director at Lloyds Bank Andy Hulme remarked.
This follows Halifax research revealing that it makes better sense financially to buy a house than rent, with first-timer buyers now £742 better off a year than renters.