Homeowning dreams ‘over by 2026’

THE dream of owning a home among young buyers could be dead within the next decade, a major report predicts.

In the mid-nineties, more than half of Britons under 34 earning today’s equivalent of £ 0,000-£30,000 owned their own home. Soaring house prices mean this has fallen to around a quarter.

If the decline continues at the same pace, homeownership is set to be over for middle-income buyers by 0 6.

The warning comes from high street bank Santander in a report on 5,000 would-be homeowners. It found nine in ten young adults dream of owning a home – yet 70 per cent of first-time buyers believe it will never happen.

Last year, banks loaned £6 billion to first-time buyers, a total of 370,000 mortgages – the highest since 006. Yet the report said only wealthy 5 to 34-year olds – or those enjoying family handouts – will soon be able to buy a home.

Andrew Montlake, managing director of mortgage broker Coreco, said: ‘Many of the first-time buyers we see are lucky enough to have some kind of assistance from family. We must guard against homeownership becoming the privilege of the haves, rather than meeting the needs of the have-nots.’

Raising a deposit was named as the biggest barrier, closely followed by not being able to get a big enough mortgage with their current salary.

The average first-time buyer deposit was £44,000 last year.

Women who move house in the first three months of pregnancy increase the risk of premature birth, research suggests. They were also more likely to have a small baby.

A US study of 130,000 women found the chance of a premature birth went up 4 per cent for those who moved in their first trimester.