Zoopla: Three quarters of FTBs don’t buy in same town as their parents

Jessica Nangle

March 5, 2020

Despite 60% claiming it is important to buy a property close to their family, more than three quarters (77%) of first-time buyers (FTBs) do not buy in the same town as their parents.

According to research by Zoopla, just under half (45%) moving more than 20 miles away.

Just 8% bought their first home within a mile of their parents, whilst 14% bought between a mile and three miles away.

A tenth (11%) moved within three and five miles away.

House hunters in the North West were the most likely to buy their first home close to where they grew up, with 14% getting onto the property ladder within a mile of their parents’ house.

FTBs in Scotland and Wales also bought close to family.

Those in the South West are most likely to move the furthest away from home, with 55% stating that they bought their first home over 20 miles from their parents.

In London, over half (53%) bought their first home over 20 miles away from their parents’ house.

Richard Houston from Zoopla said: Moving out of your parents’ house into your own home is a real milestone and a life-changing moment for many people.

“When it comes to getting on the ladder, our research reveals that despite a desire to be close to family, buying in the same area as your parents for many people appears to be a thing of the past.

“Whether it’s due to constraints around affordability, moving for employment opportunities or even if they simply want to start out on their own, first-time buyers are choosing to flee the nest.

“Owning a home gives you the freedom to put your identity on a home, gives you free-rein to get creative in the kitchen and organise parties with friends as frequently as possible.

“These are the moments that matter and show why buying your first-home is worth so much more than just purchasing a roof over your head.”

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