Consumers abandon home ownership dream
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An online survey of 2,018 adults by Opinium Research on behalf of the price comparison site shows that 25% of those polled believe they will never own a home even though they want to.
A further 11% of consumers say they will never own a property through their own choice, meaning that in total more than a third of consumers think they will never own a home.
Louise Cuming, head of mortgages at Moneysupermarket.com, says: “It is deeply concerning that so many people feel they will never be able to buy a house.
“Owning your first property used to be a rite of passage, but nowadays the challenge is to save enough to cover the deposit, Stamp Duty and fees, not to mention the worry of affording the mortgage. It is no wonder owning your own home seems to be a fading dream.”
She adds: “With Sir James Crosby reporting on how to stimulate the mortgage market, our research is a stark reminder of the effect of rising inflation and of the difficulties getting a mortgage.
"For home ownership to be ruled out by so many people, this has dire consequences for the property market.”
