Belfast Telegraph

Young people banking on a partner to be able to buy home

By Vicky Shaw

Around half of 18 to 35-year-olds are banking on a partner to help them get onto the property ladder, according to research.

Some 45% of people in this age group intend to buy their first home with a partner or loved one or already have, Halifax found.

Men were twice as likely than women to say that not being able to buy with someone else is a barrier to getting on the property ladder, according to research.

Overall, 13% in this age group feel this way, comprising 18% of men and 9% of women. A lack of income was seen as the biggest barrier for young people getting on the property ladder, with 55% of men blaming their salaries, compared with 70% of women.

Martin Ellis, a housing economist at Halifax, said: "It's not difficult to see why so many young people are now waiting for a partner to take their first step on to the property ladder, as the average UK first-time buyer deposit reached a whopping £32,899 earlier this year.

Belfast Telegraph

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