72pc of FTBs opt for houses over flats
In 2015 72% of first-time buyers set their sights on buying a house rather than a flat, up from 57% in 2014.
Steve Fletcher, director, retail banking, said: “Our research has underlined the changing expectations of first-time buyers and a combination of factors such as people entering the property market at an older age and homeowners staying in their home for a longer length of time is having an impact on the preferred type of home for first time buyers. “
First-time buyers commonly target three bedroom homes, (38%) followed by two bedroom (32%).
London is the only area where this doesn’t apply, as 62% favoured buying a flat, highlighting the cost of homes in the capital.
At the other end of the spectrum 92% of people in Yorkshire targeted purchasing a house and just 6% wanted to buy a flat.