Two in three recent first-time buyers ‘moved to an unfamiliar location'

Two-thirds of first-time buyers who got on the property ladder in the past two years were unfamiliar with their new neighbourhood, according to research by Santander UK. This compares with just over half of those who bought more than five years ago. The research indicated that moving to an area they had never previously heard of and being further away from family and friends were among the main compromises people were willing to make to get a foothold on the property ladder. The research also found that more than a third of people who moved to an unfamiliar neighbourhood did so because it was less expensive. 

Daily Mail (30/07/2024)   Daily Mirror (30/07/2024)   Evening Standard (30/07/2024)