Brits hoping to buy have already spent 3.2 years thinking about it, research from Gocompare.com Mortgages has found.
Brits hoping to buy have already spent 3.2 years thinking about it, research from Gocompare.com Mortgages has found.
Over half (51%) of Brits are considering buying a home or trading up the properly ladder, however high property prices and a difficulty affording a deposit are the biggest barriers to buying.
Indeed, three in five (61%) don’t expect to move in the next 12 months.
Matt Sanders, spokesman for Gocompare.com Mortgages said: “Affordability is a big concern for both first-time buyers and those wishing to move-up the property ladder.
“The average house price in the UK now stands at £288,000 (Office for National Statistics) and with house price inflation exceeding wage growth it’s even harder to save enough money for a deposit – potentially putting homeownership out of reach for many people.”
