Age for buying first home unchanged for a generation

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Research by online estate agent Nested.com has revealed that home-buyers in 2019 are getting on the property ladder at 27 years old – the same age as their parents did 30 years ago.

This news comes despite the fact that nine in ten (89%)  young people believe that home ownership is an unachievable goal.

Ben Bailey, spokesperson for Nested.com, 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.”

The 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.

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%) stating that they fear their children will never get on the property ladder.

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Written by: Houseladder