A&L’s findings reveal one in five people aged 20 to 29 are still hoping to buy a property within the next two years - the highest for any age group.
The average first-time buyer is currently aged 34. A&L said its survey highlights that the next generation of first-time buyers hoping to get their foot on the housing ladder is likely to be much younger.
Those in their 30s are the next most optimistic with 17 per cent intending to buy within the next two years. Older homebuyers are less confident with only 6 per cent in their 50s and 2 per cent in their 60s planning to move within the next couple of years.
Overall, homebuyers are still cautious with intentions to move in the next two years dropping from 12 per cent this time last year to 10 per cent this quarter.
Paul Cooper, head of mortgages at A&L, said: “It is encouraging to see that the housing market can expect some new blood within the next two years.”
Mark Osland, director of Fidelius, commented:“We deal with a lot of first-time buyers. Clearly they can have problems with affordability, but some are using their parents to get round this. Interest rates are low and lenders are beginning to offer better deals.”
