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Are Brits giving up on the dream of homeownership?

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07/01/2020
One survey found that many of those who don't own a property don't believe they ever will
Are Brits giving up on the dream of homeownership?

Just 55% of those people who don’t own a home but want to in the future, actually believe it will happen, according to Engen Group.

The UK based innovation and property business found that one in five (19%) don’t think they will ever achieve this goal and 26% are unsure.

Many of those who anticipate be able to climb onto the property ladder may have to wait a while.

Nearly one in five (18%) expect to be aged between 36 and 40 before they achieve this, another 18% say they will be between 41 and 50 years old, and 10% think they will be older than this.

Not a priority

For those people who expect to own their own home, many are waiting for life changing events to happen first. For example, 22% say they need to be in a serious relationship, 14% want to have a child first and the same number (14%) are waiting for an inheritance.

Graeme Boiardini, CEO of Engen Group, said: “It is sad to see so many people having to wait until middle age or older before they think they can get on to the property ladder.

“More needs to be done to increase the supply of affordable housing so that people don’t have to wait for an inheritance or get married and have two incomes to do this.”

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