A recent survey for the Council of Mortgage Lenders, undertaken by YouGov, shows that people still see owning their own property as a long-term desire.
In the survey, over 2000 people over 18 were asked about the tenure they desire to live in, in ten years time. 85% of respondents stated owning their own homes. When asked about the shorter term, i.e. over the next two years, 76% said home-ownership.
The study was last done in January 2007: the results are little changed, from 84% of respondents choosing home ownership as expected in ten years time, and 78% over two years.
When broken down into age groups, the 18-24s had the highest aspirations for ten years time – 86% of them expected to be living in their own homes, although only 42% thought they would be in two years time. This is likely to be a short-term lifestyle choice for greater flexibility and mobility, but might also be a realistic appraisal of the current economic situation and the difficulties being experienced by first time buyers.
16th September 2010