My wife and I bought our first home when we were 24 years of age. That is unthinkable for most people of that age now. My parents bought their first house in 1971 for £2,000.00. That amount of money could buy the white goods for most houses these days, but no more.
With politicians on all sides looking for answers to what they perceive to be a "housing crisis", dare I suggest that it may not be bad as some people make it out to be?
A controversial statement I know but there is method to my comment... With more first time buyers having purchased in the past year than the past many years, and so many schemes in place to assist those buying their first properties (Help to Buy, Help to Buy ISA's and Lifetime ISA's to name but three), perhaps it is not all that bad.
In addition, with people "settling down" later in their lives and living a more transient lifestyle, perhaps the housing market trends on buyers ages merely reflect the same?
Just Over One Third Of Adults Under 35 Own A Property In the past ten years the number of younger home owners has decreased by a third according to a recent report published by the Ministry of Housing, Communities and Local Government (MHCLG). Nowadays, only 38% of people under the age of 35-years owns their own property. However, this figure has shrunk from 55% a decade earlier.