44% want to buy a new home in the next three years

Alex Johnson

d701dcc3fd04382700c30bc52bcf336a6699cc51 300x225 44% want to buy a new home in the next three yearsThe Council of Mortgage Lenders (CML) asked just over 8,000 British adults a range of questions about their views of property. Here’s a summary of the findings:

* 79% would like to be home-owners in 10 years’ time, slightly down from 81% a year ago, and one of the lowest levels the CML has recorded over the past 30 years

* all age groups strongly prefer home-ownership in the longer term, but there has been a significant drop among younger age groups over the past few years while people who are retired value home-ownership more highly than ever

* the majority of private sector tenants (64%) and those sharing with parents, other relatives or friends (70%) want to be home-owners in the longer term, although both percentages are lower than 12 months ago (76% and 78% respectively).

* about 44% of people would like to buy a new home during the next two to three years – those renting privately or sharing with parents, other relatives or friends, and 25-34 year olds are the keenest to buy.

* three in 10 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.

* those aged 25-34 are more confident about buying a new home than other age groups

* there is significant support across all age groups for the government to make it easier for people needing a large deposit to get a mortgage

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