x
By using this website, you agree to our use of cookies to enhance your experience.
Graham Awards

TODAY'S OTHER NEWS

Affordability crunch means most first time buyers quit home towns

A survey suggests that 77 per cent of first time buyers do not purchase their initial property in the same town as their parents - and many move over 20 miles away.

A study of 2,000 people by Zoopla found that just eight per cent bought their first home within a mile of their parents; 14 per cent bought between a mile and three miles away; and 11 per cent moved three to five miles away. 

The results suggest that in lower cost housing areas - the North West of England, Scotland and Wales - first time buyers stick close to where they were brought up.

Advertisement

But by contrast in more expensive areas they move away - in the South West 55 per cent of FTBs bought their first home over 20 miles from their parents. And in London it’s 53 per cent. 

“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” says a Zoopla spokesperson.

Zoopla is investing heavily in the first time buyer sector with the introduction of Zooploma, a series of guides and information designed to help FTBs navigate the property ladder.

icon

Please login to comment

HBB Solutions HBB Solutions HBB Solutions
sign up