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First-time buyers expect better

Sarah Davidson

March 16, 2015

In terms of UK homeowners as a whole one third (33%) also think they should be doing better.

Andy Hulme, mortgages director at Lloyds Bank, said: “Many current homeowners clearly still feel that they are not progressing up the ladder as quickly as they would like, with higher house prices in some regions meaning people are waiting longer to move into to their long term family home.

“Despite this, almost two-thirds still believe they’ll be in their long-term home in less than five years, with the vast majority thinking this will only require one more move.”

Over a third (36%) of first-time buyers hope to achieve their housing aspirations by the time they are 45, but almost half (48%) thinks the market will impact how long it takes them to reach their family home.

Most (43%) UK homeowners aspire to live in three bedroom houses, while just under a quarter (24%) want four bathrooms.

Some also aspire to have nice gardens, conservatories and high quality kitchens and bathrooms.

The average price of a three bedroom home in 2014 stood at £190,420, with the average total income of the occupants is £46,140.


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