Partner Article

First Time Buyer Property Portal Reports Interest Spike from 46-55 Year Olds

Highlighting a trend across the property market, Share to Buy has reported an increase in older buyers looking to take advantage of the part buy, part rent scheme. Between late last winter and early this spring, Share to Buy saw a twenty percent increase in the number of over- forty fives looking for Shared Ownership home.

The capital’s highly competitive property market is no secret and has pushed the average age of first time buyers in the capital to thirty seven years old. However, others can face an even longer wait with first time buyers in their forties and fifties become increasingly more common as many struggle to save enough for the hefty deposit required to purchase on the open market.

Shared Ownership offers an accessible lifeline to older first time buyers who otherwise might not be able to purchase a home in the capital through saving alone and without the help of inheritance or gifted deposits. The majority of those aged between forty six and fifty five registering interest in Shared Ownership properties are house hunting in London, with thirty eight percent of all registrations from this age group being for homes within the capital. This is a trend consistent across Share to Buy where registrations for properties in London are up eighteen percent, suggesting that as the country reopens, people are being drawn back to the capital.

This was posted in Bdaily's Members' News section by Hannah Graham .