Young first time buyers 'confident over property prospects'

28-Jan-2014

An increasing number of young first time buyers are growing confident about their prospects if getting onto the housing ladder.

Recent research published by YouGov on behalf of Countrywide found that more and more youngsters are being helped onto the property ladder by schemes such as Help to Buy.
Its data revealed that more than half (56 per cent) of 18 to 24-year-olds believe they are likely to use the Help to Buy scheme compared to around a quarter of those aged between 25 and 54.

Additionally, around a third of private renters think they are likely to use it to buy a property in the next three years

Commenting on the findings, Grenville Turner, chief executive of Countrywide, said: "Greater availability of higher loan-to-value mortgages, improving economic conditions, lower unemployment and the implementation of government-backed schemes such as Help to Buy, have given consumers reasons to feel confident."

The figures also showed that 51 per cent of homeowners believe the value of their property will increase in 12 months' time.

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