Second steppers face £135k price gap

9th March 2018

Home owners trying to take their second step on the property ladder face a typical price gap of more than £135,000 to make the leap. The Lloyds Bank Second Stepper report found people who are looking to trade up typically live in a home valued at about £211,296, but the type of property they would like to move to – a detached home – will cost around £347,281 – a difference of £135,985. However, Lloyds also calculates that second steppers have an average equity level of £85,877 to inject into their next property, making it easier to make the jump. The survey also found that must haves for the second-steppers include parking space and a garden.

The I (02/03/2018)  Daily Mail (02/03/2018)