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Thursday, February 03, 2011

Young still aspire to buy

Almost all young people under 30 want to make buying a home a top priority, and don’t want to settle for long-term renting.

The poll, of 2,465 consumers of all ages, blows wide open the theory that more and more will go the European way and choose to be tenants for lifestyle reasons.

People under 30 are more opposed than any other age group to ‘continental’ models of tenure in which families routinely rent for the duration of their adult lives.

In a new poll 9 out of 10 of the 18 to 29-year-olds questioned would not be happy if they were forced to rent property throughout their life.

64 percent also said they would not be happy if they were still renting when they were looking to start a family.

The research, was conducted independently for Barratt Homes and points to a continued culture of aspiration to home ownership in the UK despite the property crisis of recent years.

So much for the shift towards the continental concept of long term renting.

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