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Home » News » News » First time buyer comparison – 1994/5 vs 2014/15 from your Cambridge Mortgage Broker

The result of a recent housing survey conducted the government revealed that 27% of First Time Buyers were helped by “the bank of mum and dad” towards their first home purchase[1]. The figure 20 years ago was 20%. The other most popular means of acquiring their deposit by inheriting or by teaming up with a partner to purchase their first home together.

In 10 years, the number of people buying their first home has dropped by ⅓ despite government schemes designed to help first time buyers such as the Help to Buy scheme.

[1] https://www.gov.uk/government/statistics/english-housing-survey-2014-to-2015-first-time-buyers-and-potential-home-owners-report

First Time Buyer Comparison[1]
 1994/952014/15
Average Age3033
Single Buyers29%14%
Couple Buying Together63%80%
Got Help from Friends/Family21%27%
Used Inheritance3%10%
Total First Time Buyers857,000564,000

[1] http://www.bbc.co.uk/news/business-36857426

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