Buyers 'will wait until 30 for first home'

Wed 10 Mar 2010 - Published in Mortgages

First-time buyers in the future could be forced to delay property ownership until their 30s, according to an expert.

A recent survey by Rightmove found that the proportion of first-time buyers looking to pick up a property in February dropped for the second month running to 25.8 per cent.

In addition, just 58 per cent of first-time buyers believe that now is a good time to purchase a home, showing a decline for the fourth successive quarter.

Commenting on the findings, Jane Marr, director at the Little House Company, said it is "very worrying" that fewer people are considering getting onto the property ladder.

"I can foresee the situation where people in their 20s do not consider homeownership and that it will only become a realistic goal once in your 30s," she explained.

Ms Marr also claimed tighter lending criteria and high deposit requirements have created a housing market which is off-putting to first-time buyer.

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