Appetite for home ownership is strong
ALL age groups continue to show a strong preference for homeownership in the longer term, according to research for the Council of Mortgage Lenders, but there has been an appreciable drop amongst younger people over the past few years.
When asked whether they expect to be in a position to buy a new home within the next two to three years, a little over a third of the 44 per cent who would like to move think that it is likely that they will do so.
A spokesman for the CML says: “Home-ownership clearly remains a very strong aspiration among the British. The recent reduction in appetite is almost certainly tied to the economic and financial difficulties that the UK and many other countries are experiencing.”