Youngsters aspire to be homeowners

Young people throughout the UK are keen to get on the property ladder in later life, which could prove good news for DIY house selling.

Figures from HSBC show 80 per cent of non-homeowning adults plan on having their own property, although less than a quarter anticipate this will happen in the next five years.

HSBC's head of mortgages Stuart Beattie commented: "The key to helping buyers back into the market is to help them obtain the cash deposit that responsible lenders require before granting a mortgage."

He added that the government and private sector parties need to join forces to offer greater incentives to first-time buyers.

These statistics come as Nationwide reveals there was a rise in property prices last month, as it registered an increase of 0.5 per cent on February levels.

Compared to the same month of last year, there was a 0.1 per cent jump.

  • Property News from Lawpack: buying or selling your own house? Straight-forward advice on DIY conveyancing.

Published on: April 1, 2011

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