Generation of younger have and have-nots emerging

7th February 2014

Younger people who are not yet on the property ladder risk creating a future cycle in which their own children have a tougher struggle to own a home, a report from HSBC suggests.

The current generation of 25 to 36-year-olds, the traditional age group for first-time buyers, is split into "property haves" and "property have-nots" who face very different prospects. While younger people who have managed to get on the property ladder did so typically at 29, the "have-nots" do not expect to buy their first home before the age of 35, according to the report. Researchers predict this six-year head start for those already on the property ladder could have a variety of knock-on effects for people throughout their lives - including the level of financial support they are able to offer their own children when they come to buy their first home.

Source:   The Independent