Brits expect to buy first home 'aged 38'
Demand for tenancy agreements
may remain strong for some time yet, as a poll shows that people do not expect to own their first home until they are 38 years old.
Almost a third (31 per cent) of those questioned by moneysupermarket.com identified that they do not plan on ever buying a property.
Furthermore, 19 per cent of those who are not currently on the property ladder plan on entering intotenancy agreements
until they have saved up a big enough deposit.
Clare Francis, mortgage spokesperson at moneysupermarket.com, commented: "House prices may have fallen in many areas but they are still high.
"This coupled with the need for such a high cash deposit is pushing many people out of the market."
Tom Entwistle, director at LandlordZONE, recently suggested that the rental market will remain strong for at least the next five years as mortgage finance remains restricted.
Published on: May 20, 2011
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