'Many aspiring' to be a first-time buyer

Posted: 01 Apr 2011 13:23:31 GMT

Many individuals in the UK would like to be a first-time buyer, it has been found.

A high number of people who do not own a home aspire to be a first-time buyer, new research has shown.

Carried out by HSBC, the survey revealed 80 per cent of such individuals would like to be able to purchase property for the first time - but less than a quarter believe they will have the means to do so within the next five years.

The organisation noted that the findings suggest over 90 per cent of all UK households want to be homeowners, yet just 68 per cent have actually achieved this.

Stuart Beattie, head of mortgages at HSBC, said the investigation proves the aspiration to become a homeowner remains high.

The industry figure added: "Over 80 per cent of young non-homeowners are aspiring to buy a home but are being prevented from doing so due to lack of affordable homes."

According to the March 2011 BSA Property Tracker, many people in the UK are still hopeful that they will one day be able to purchase their own abode.
 

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