79% hope to own house within 10 years

79% hope to own house within 10 years

The Council for Mortgage Lenders have published the results of an extensive YouGov survey into attitudes to home ownership.

The survey found that 79% of British adults would like to be home-owners in 10 years’ time.

This is one of the lowest figures from the last 30 years and down significantly from a year ago when the figure was 81%.

While many of those surveyed would ideally like to buy a new home, a number of factors combine together to affect the chances of this happening. These include the wider economic situation, incomes and living standards, as well as limited suitable properties being offered for sale and high transaction costs.

When asked whether they actually expect to be in a position to buy a new home within the next two to three years, 36% of the 44%, who would ideally like to move, think that it is likely that they will do so.

This means that about 16% of all respondents would like to buy during the next two to three years and believe that it is likely to happen.

Existing home-owners are more confident about buying a new home than those renting privately or sharing with relatives or friends.

30% of home-owners feel it is likely that they will be able to buy in the next two to three years, compared to 21% of private renters, 20% of those living with friends or relatives, or 8% of social renters.

Full details of the report can be found here.

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