Average Age 35 for First Time Buyers

Research from the Post Office Mortgages has found that the average age of a first time buyer is 35. The home buyer research compared the difference for first time buyers in the 1960's where the average age was 23 years of age.

Over 53% of potential house buyers between the ages of 25-34 don't think they will ever be able to afford to buy a house. Half of the would be buyers aged 25-34 believe they will never be able to afford a deposit unless their circumstances change. This would include receiving a bonus from work or a lump sum from parents.

London house buyers face the toughest task of gathering a deposit due to the cost of the properties. Family members across the survey are being relied upon to support their offspring and meet the funding gap.