Everyone wants to own a home
The aspirations of current homeowners to move into a better property than their current abode are at a 40-year high, according to a new study.
Research from AA Home Emergency Response showed that 37 per cent of those who bought their first home since 2008 have plans to buy a detached residence in the future.
In addition, the proportion of first time buyers who have expectations of investing in a four or five-bedroom abode have risen from 19 per cent in the 1980s to 22 per cent since 2008.
Tom Stringer, head of AA Home Emergency Response, said that this study shows that the troubles in the housing market over the last three years have not dented the aspirations of recent first time buyers.
“In fact, new entrants to the market are more positive about their long term prospects than those entering in the last thirty years – something which could bode well for recovery in the market,” he added.
Once on the property ladder, first time buyers might look towards investing in a property with extra rooms for having a family, while a garden will provide space for the kids to run around in.
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