FTB prefer house to flat
According to research from Clydesdale and Yorkshire Banks approximately 70% of first-time buyers in the UK would prefer to own a house rather than a flat, this compares with an average last year of 57%, those who would prefer a flat are at 28% down from 43% in 2014.
Steve Fletcher, director, retail banking, reportedly said“Our research has underlined the changing expectations of first-time buyers and a combination of factors such as people entering the property market at an older age and homeowners staying in their home for a longer length of time is having an impact on the preferred type of home for first time buyers.”
In London the picture is a bit different with 62% opting for flats opposed to approx 38% opting for a house, this obviously reflects affordability which is a major issue in and around London, availability is also an issue in London, smaller affordable houses are in demand by a large cross section of the property buying public not only first time buyers, as mentioned in one of our recent “Breaking News” articles many LTB’s are looking to downsize but are very restricted in choice.
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