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Renters cannot buy

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16/01/2006

A quarter of married couples are finding it hard to get on the housing ladder because it is too expensive, according to new research by Alliance & Leicester.

The study shows that 1 in 4 (25%) married renters would like to get on to the housing ladder, but cannot afford to make the move from renter to homeowner. Only 1 in 10 (13%) of married renters are in a position to buy their first home compared with 6% of singletons who rent.

Singletons are also finding it hard to get on the housing ladder with 26% unable to afford to buy a home. They are most likely to be renters in Britain (40%) with only 1 in 5 owning their own home (20%), and over a third (37%) preferring to live at home with their parents instead.

Stephen Leonard Director of Mortgages at Alliance & Leicester said: “A new year signals new hopes and dreams for prospective homebuyers. The Christmas period is traditionally slow for the housing market however this picks up again after the festive lull. The housing market continues to be buoyant so those who are looking to buy or move house should not lose hope.”

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