UK obsession with property begins at a young age, with 95% of teenagers plan to become homeowners.

Despite the falling number of first-time buyers over recent years, IFA Promotion has said there is still a huge appetite to own property amongst young people. In fact 95% of teenagers plan to be homeowners one day, and the vast majority (80%) intend to get on the property ladder before they turn 30.

Half of the teenagers questioned believe they will buy their first property with a partner, compared to just a sixth who plan to buy on their own. But teenagers realise that becoming a homeowner comes at a price, with nearly half saying they would be prepared to curb their fun-loving lifestyles to get a foot on the property ladder.

David Elms, Chief Executive of IFA Promotion, said, “The lack of affordable property for first-time buyers has not affected the deep rooted desire to own property among young people. Lenders are heavily competing for borrowers’ business, which means there are plenty of options for would-be homeowners.”