Blog Post

First-time Buyers are getting older

Dewi Dewi Jones Dec 6, 2024, 11:00 AM

There were 975,000 First-time Buyers in England in the 3 years to 2023/4 according to the latest English Housing Survey.

This equates to 325,000 a year: an impressive number given the challenges to affordability with rising mortgage rates over that 3 year time frame.

Buyers are accessing the housing ladder later in life though. The average age for a First-time Buyer is now 33.6 years old, up from 32.1 five years ago and 31.9 back in 2014, (data for England excluding London).

In London, the average First-time Buyer is older at 34.8 years but, in contrast to the trend for rest of England, it has fallen slightly over the last year and is lower than several clear peaks in the data (in 2013/14 and 2018/19).

Homeownership remains a goal for many renters. Over half (57%) of private renters, representing 2.6 million households, anticipate buying a home in the future and a quarter of these plan to buy within the next two years. Source: Dataloft by PriceHubble, English Housing Survey 2023–2024 (released November 2024).

Leave a comment
Newest on top Oldest on top
Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Very good estate agency"

- Junaid

"Dewi kept us up to date & was very understanding of my Mum's situation. I would highly recommend selling with this company."

- Jane

"I was shown around a property by Abbey Bird, it was a lovely viewing"

- Sophia

"Would highly recommend Peter Anthony when selling your property."

- Gwen

"Abbey was very nice and explanatory in all she was saying and Gill is quick to respond"

- Tope

"I had a viewing with Abbey, so lovely and friendly"

- Amy

"Friendly and helpful. No problems everything ran smoothly as expected and professionally."

- David

"If you need an Estate Agent who is going to really go the extra mile, Dewi is THAT person."

- James