First time buyers getting older

April 29, 2005
Government figures have added to the evidence that first time buyers are finding it harder to get on the housing ladder. Part 1 of the Survey of English Housing 2003-4, Trends in Tenure and Cross Tenure Topics, revealed that the proportion of households between the ages of 16 - 24 who are buying with a mortgage has fallen from 34% in 1991 to 18% in 2004. The survey has also shown that almost two thirds of English households consist of two or less people with 35% of households consisting of couples with no dependent children and 29% of one person. Owner occupation had risen to 71% in 2004 while the housing association share of the social sector had risen from 17% in 1994 to 37% in 2004.

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