Research reveals THIS is the age we buy our first home – the result might surprise you!
The age remains unchanged in a generation
How many can relate to a parent saying, 'It was the same back in our day'. Not entirely true because the cost of living has increased ten-fold, but it remains that buying a house has always been a challenge. Despite modern day money struggles new research reveals the age at which we buy our first home today has not changed in a generation.
Research carried out by Nested, an online estate agent, reveals today’s home-buyers are getting on the property ladder at 27 years old – the same age as their parents did 30 years ago.
We admit this information came as a surprise to us, you too?
Looking for buying advice? Phil Spencer says you should NEVER do this when looking around a house
'We often hear of younger people’s fears that they won’t be able to buy a home, but our research shows that the dream of home-ownership is still within their grasp' explains Nested spokesperson Ben Bailey.
The research shows 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.
The recent study also unearthed that 90 per cent of the public think it’s now impossible for the younger generation to buy a home. Of these over half, 58 per cent, cite high house prces as the reason for their worries. While a third, 33 per cent blame mortgage lenders for making it difficult to borrow.
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'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.'
It comes as nine in ten believe home-ownership is an unachievable goal for today’s young people
The study also revealed a staggering sixty per cent of parents fear their children will never be able to buy their own home.
More expert advice: Phil Spencer reveals the secrets behind estate agent's hot buyers list – including how to get onto it
Did you think the average age was higher than 27?
Tamara was Ideal Home's Digital Editor before joining the Woman & Home team in 2022. She has spent the last 15 years working with the style teams at Country Homes & Interiors and Ideal Home, both now at Future PLC. It’s with these award wining interiors teams that she's honed her skills and passion for shopping, styling and writing. Tamara is always ahead of the curve when it comes to interiors trends – and is great at seeking out designer dupes on the high street.
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