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Under 30s 'aim to have own home'

Owning a home is becoming a priority for people under the age of 30, according to new research.

A recent Moving Improving study by Alliance & Leicester (A&L) has shown that having a house is a goal of people in their 20s, while over half of 18 to 29-year-olds claim that house ownership is a realistic possibility by the time they reach 30.

Accordingly, the figures suggest that nearly seven in ten people said that they had bought their first home before they were 30, demonstrating that this is a milestone for househunters.

Richard Taylor, head of mortgage products at A&L, commented: "Reaching 30-years-old appears to be a landmark age for many people with it being set as a deadline for some major life events, like owning a property, getting married or starting a family."

Mr Taylor went on to say that many people prefer to have a home to call their own earlier in life, adding that even in the current economic climate, under 30s still feel confident.

Over half of first-time buyers are looking abroad for their first property, according to the Fair Investment Company.

See how much you could borrow with a home loan from Lombard Direct.
© Adfero Ltd

28/03/2008 15:43:08

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