{"id":6961,"date":"2019-01-31T18:26:33","date_gmt":"2019-01-31T18:26:33","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/when-do-people-buy-their-first-home\/"},"modified":"2019-01-31T18:26:33","modified_gmt":"2019-01-31T18:26:33","slug":"when-do-people-buy-their-first-home","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/when-do-people-buy-their-first-home\/","title":{"rendered":"When do people buy their first home?"},"content":{"rendered":"\n<div property=\"articleBody\">\n<figure class=\"media-landscape no-caption full-width lead\"><span class=\"image-and-copyright-container\"><\/p>\n<p>                <img loading=\"lazy\" decoding=\"async\" class=\"js-image-replace\" alt=\"Keys on table\" src=\"https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/6B77\/production\/_105411572_keys_getty.jpg\" width=\"976\" height=\"549\"\/><span class=\"off-screen\">Image copyright<\/span><br \/>\n                 <span class=\"story-image-copyright\">Getty Images<\/span><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p class=\"story-body__introduction\">Home ownership rates in England rose slightly in the last financial year &#8211; but first-time buyers are having to wait until they are older to buy.<\/p>\n<p>The annual <a href=\"https:\/\/www.gov.uk\/government\/statistics\/english-housing-survey-2017-to-2018-headline-report\" class=\"story-body__link-external\">English Housing Survey<\/a>, published by the government, shows that 64% of the population owned their own home in 2017-18.<\/p>\n<p>That was a one percentage point rise on the previous year, but far below the peak of 71% in 2003.<\/p>\n<p>There were still far fewer young buyers than a decade earlier.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>Some 38% of 25 to 34-year-olds are homeowners, down from 55% a decade earlier, in part owing to rising house prices. <\/p>\n<p>The average age of first-time buyers has risen from 31 to 33 over the same 10 years.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>The over 65s are more likely to be homeowners than they were a decade earlier, with 79% of this group owner-occupiers in 2017-18, most having paid off the mortgage.<\/p>\n<p>More young people are renting and fewer expect to be able to buy. Rent eats up more household income that a mortgage would do.<\/p>\n<figure class=\"media-landscape no-caption full-width\"><span class=\"image-and-copyright-container\"><\/p>\n<p>            <\/span><\/p>\n<\/figure>\n<p>So many of these young tenants, who want to buy, will be grateful that house prices <a href=\"https:\/\/www.bbc.co.uk\/news\/business-47063224\" class=\"story-body__link\">had hardly changed in the last year<\/a>, according to the latest survey from the Nationwide Building Society.<\/p>\n<p>Lindsay Judge, senior research and policy analyst at the Resolution Foundation, a think-tank representing those on low and middle incomes, said the Bank of Mum and Dad was becoming a bigger influence on homeownership levels.<\/p>\n<p>&#8220;However, the underlying drivers of lower homeownership rates, including high prices, are here to stay. As a result politicians should continue to focus on widespread dissatisfaction with renting and worrying increases in overcrowding,&#8221; she said.<\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.bbc.co.uk\/news\/business-47070020\">Source<\/a> by <a href=\"\">[author_name]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Image copyright Getty Images Home ownership rates in England rose slightly in the last financial year &#8211; but first-time buyers are having to wait until they are older to buy. The annual English Housing Survey, published by the government, shows that 64% of the population owned their own home in 2017-18. That was a one &hellip; <\/p>\n","protected":false},"author":0,"featured_media":6962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-6961","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\/6961","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=6961"}],"version-history":[{"count":0,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/posts\/6961\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media\/6962"}],"wp:attachment":[{"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=6961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=6961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.styledeals.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=6961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}