{"id":5726,"date":"2018-12-22T01:21:20","date_gmt":"2018-12-22T01:21:20","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/first-time-buyer-numbers-rise-i-was-saving-for-a-lifetime\/"},"modified":"2018-12-22T01:21:20","modified_gmt":"2018-12-22T01:21:20","slug":"first-time-buyer-numbers-rise-i-was-saving-for-a-lifetime","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/first-time-buyer-numbers-rise-i-was-saving-for-a-lifetime\/","title":{"rendered":"First-time buyer numbers rise: ‘I was saving for a lifetime’"},"content":{"rendered":"\n
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\"JoeImage copyright<\/span>
\n Joe Miller<\/span><\/p>\n

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Image caption<\/span>
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\n Joe Brewer and Stacy in their new home
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Joe Brewer, from Dartford in Kent, moved into his two-bedroom terrace with girlfriend Stacy a month ago. <\/p>\n

“It’s a big relief getting in there. It really took a long time but it has paid off. It seemed I was saving for a lifetime!” says the 27-year-old.<\/p>\n

He is among increasing numbers of 25 to 34-year-olds for whom home ownership has become a reality. <\/p>\n

For the first time in 30 years, home ownership among this group has risen, says the Resolution Foundation.<\/p>\n

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But the new research by the think tank, which focuses on people on lower incomes, warns that first-time buyers face still face acutely high barriers to entry. <\/p>\n

The Foundation says that easier credit conditions and a slowdown in house price growth in recent years have improved the situation for young first-time buyers. <\/p>\n

As a result, home ownership rates among 25 to 34-year-olds have risen by 3% since they hit 25% in 2016. <\/p>\n

But it says home ownership among this age group is half that of the 1980s, when half of this age group owned their own home.<\/p>\n

Sharing rents<\/h2>\n

The Foundation says that despite this recent uptick, renting will continue to be the norm for the majority of young people, particularly in the UK’s major cities. <\/p>\n

That means the share of young families in the private rental sector increased from just 9% in the late 1980s to 34% now. <\/p>\n

Among this group, even those with children are increasingly sharing a roof, with 12% of all young families now sharing with others, up from 3% in the late 1980s. <\/p>\n

In Bristol and Brighton, one in three young private renters is now living in shared accommodation.<\/p>\n

The Foundation says a better deal for renters is needed, as the high financial barriers to owning remain.<\/p>\n

It calls for the government to help young tenants by making indeterminate tenancies the sole form of private rental contract and limiting rent rises.<\/p>\n

Daniel Tomlinson, Research and Policy Analyst at the Resolution Foundation, said: “Home ownership politicians should act to increase the number of homes available to buy, use the tax system to favour first-time buyers over second-home owners, and ensure that the private rental sector is fit for purpose – providing the security that many young families need.” <\/p>\n<\/p><\/div>\n


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Source<\/a> by [author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image copyright Joe Miller Image caption Joe Brewer and Stacy in their new home Joe Brewer, from Dartford in Kent, moved into his two-bedroom terrace with girlfriend Stacy a month ago. “It’s a big relief getting in there. It really took a long time but it has paid off. It seemed I was saving for … <\/p>\n","protected":false},"author":0,"featured_media":5727,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-5726","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"_links":{"self":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5726","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=5726"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/5726\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/5727"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=5726"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=5726"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=5726"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}