It may appear that it becomes harder to get on the property ladder with every passing generation.
But a survey shows it is not young people who hold out the least hope of ever buying a house, but middle-aged non-homeowners instead.
More than half of those aged between 35 to 54 who do not own a home are unsure they will ever be able to buy one, research found. Mortgage lenders say it is the ‘most stark’ finding yet that Britons are getting discouraged with the housing market.
The poll found that 21 per cent of 18 to 34-year-olds who are non-homeowners are either unsure if they will ever get to own a home or are not planning to buy one at all.
But among 35 to 54-year-olds, the figure losing hope was 58 per cent.
A survey shows it is not young people who hold out the least hope of ever buying a house, but middle-aged non-homeowners instead (stock image)
More than half of those aged between 35 to 54 who do not own a home are unsure they will ever be able to buy one, research found (stock image)
Would-be first-time buyers were also asked what barriers were preventing them from buying a home.
Two-fifths said the cost of living was the key challenge, while 43 per cent said it was due to the high prices of property.
Half said they felt so overwhelmed by the complexity of the market that they had given up looking to buy.
A key motivation for buying – among 55 per cent of people – was to not ‘waste’ money on rent.
Those looking to buy also highlighted wanting the freedom to live how they liked (40 per cent), wishing to start a family (34 per cent) and wanting security in retirement (33 per cent).
The poll found that 21 per cent of 18 to 34-year-olds who are non-homeowners are either unsure if they will ever get to own a home or are not planning to buy one at all (stock image)
Ben Merritt, from Yorkshire Building Society, which commissioned the survey, said: ‘These research findings are perhaps our most stark yet, pointing to a potential loss of faith in the idea of home ownership…
‘We want them to feel encouraged that there are solutions out there for them.
‘If more industry players give borrowers hope, they can see how compelling a prospect property still is as an asset.’