The 2012 HSBC Moving Home Survey, which asked more than 2,000 adults about their home buying and selling intentions over the next six months, revealed that only 12% are thinking about moving home or getting on the housing ladder.
Of those householders not looking to move, 61% of people aged 55 and over said it was because they are happy with their current property, compared to just 28% of those aged 34 and under.
Of those people aged 34 and under who are not planning to buy or sell a property, the main reasons include having an insufficient deposit (29%), concern about not getting a mortgage (15%) and fears about employment prospects (14%).
An additional 10% said they simply did not wish to own a home.
The main reasons people aged 55 and over are thinking of selling a property are to downsize (36%) and release some or all of the equity held within it (33%).
The key motivations for younger people wanting to buy or sell include to get on the property ladder (31%) and the need for more space or to upsize (27%).
Peter Dockar, head of mortgages at HSBC, says: “Our research suggests that the current economic climate is of particular concern to younger people who either want to get on the housing ladder or move on to a larger property.
“All this supports the prediction from the Council of Mortgage Lenders that lending will fall this year. However, HSBC has no intention of closing its doors to customers.”