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26 Mar, 2008

Over half of 20-somethings expect to own their own home by age 30, says Alliance & Leicester.

The latest Moving Improving report shows that 57 per cent of 18 to 29 year olds think owning a property by 30 is a realistic goal.
A&L says the average age of a first-time buyer is now 29, having risen from 28 in the early 1990s.  The latest findings support these figures with 67 per cent saying they bought their first home before they were 30.
Head of mortgage products at A&L Richard Taylor says 30 is a landmark age for many people, with it being set as a deadline for owning a property, getting married or starting a family.

Renting with a partner prior to owning a first property was seen as a natural progression for 50 per cent of 18 to 30 year olds.

Getting married is also a key with 49 per cent citing it as a desire before they reached 30.

Having a child is also high on the agenda, with 42 per cent wanting to start a family by the time they reach 30.
Taylor says: "Being a home owner for the first time is something most of us desire, preferably earlier in life. Even in an uncertain housing market we are seeing those under the age of 30 feeling confident and optimistic about the prospect of getting onto the property ladder before they say goodbye to their twenties."

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