Less than half of aspiring homeowners ‘expect to get onto property ladder’

Less than half (48%) of aspiring first-time buyers expect their homeownership dream to become a reality, according to a survey. Nearly three-quarters (73%) of people who want to get onto the property ladder said their parents own their own home, the research for property advice website the HomeOwners Alliance found. Seven in 10 (71%) people surveyed who are not homeowners said they want to get onto the property ladder, despite 52% of them believing they will never be able to achieve this. The top barriers include high house prices (60%), saving for a deposit (44%), the ability to afford monthly mortgage repayments (33%) and the ability to get approved for a mortgage (31%), the survey found. Paula Higgins, chief executive of the HomeOwners Alliance said: “Brits are giving up on their dream of homeownership, our damning survey reveals.” She added: “With the upcoming election, a key issue will be how the parties plan to build more homes and provide much-needed support to first-time buyers.” Opinium surveyed 2,000 people across the UK in January 2024. A Department for Levelling Up, Housing and Communities spokesperson said: “Supporting young people to own their own homes is a priority, and since 2010 we have...

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