Stockport Property News

Rise in over 50s buying first homes

TomS - Head Tom Simper Feb 9, 2024, 10:00 AM

The number of first-time buyers (FTBs) over the age of 50 has grown by over 30% in the past five years, while the proportion of those aged 30 and under is in decline.

Stretched first-time buyer affordability means that we are seeing more people waiting until they are over 50 to buy their first home.

London currently has the lowest proportion of first-time buyers over 50, however it is growing at the fastest pace, with total purchases from over 50s growing 64% between 2018 to 2022.

Over 40s are set to make up a quarter of first-time buyer transactions by 2030 and the number of 50s will account for 5%. Source: #Dataloft, Tembo, FCA 2018 to2022

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