Less than half of aspiring first-time buyers expect homeownership dream to come true

Less than half (48%) of aspiring first-time buyers expect their homeownership dream to become a reality, according to a survey by the HomeOwners Alliance. The survey found that high house prices, saving for a deposit, and the ability to afford monthly mortgage repayments are among the top barriers for first-time buyers. Seven in 10 (71%) people surveyed who are not homeowners said they want to get onto the property ladder, despite 52% of them believing they will never be able to achieve this. Paula Higgins, chief executive of the HomeOwners Alliance said: “ Brits are giving up on their dream of homeownership, our damning survey reveals.” She added: “With the upcoming election, a key issue will be how the parties plan to build more homes and provide much-needed support to first-time buyers.” 

Daily Express (26/02/2024)   The Independent (26/02/2024)