{"id":765,"date":"2015-08-23T00:00:00","date_gmt":"2015-08-23T00:00:00","guid":{"rendered":"https:\/\/www.thehouseshop.com\/property-blog\/young-people-putting-property-purchases-on-hold\/"},"modified":"2018-02-20T02:45:19","modified_gmt":"2018-02-20T02:45:19","slug":"young-people-putting-property-purchases-on-hold","status":"publish","type":"post","link":"https:\/\/www.thehouseshop.com\/property-blog\/young-people-putting-property-purchases-on-hold\/","title":{"rendered":"Young people putting property purchases on hold"},"content":{"rendered":"\n<!-- SEO Ultimate Plus (https:\/\/seoultimateplus.com) - Code Inserter module -->\n<script async>(function(s,u,m,o,j,v){j=u.createElement(m);v=u.getElementsByTagName(m)[0];j.async=1;j.src=o;j.dataset.sumoSiteId='b68b392479b5981b8acf46565e9fe32a0734fc21a1f7c1e60121eaa6ca1a1c64';v.parentNode.insertBefore(j,v)})(window,document,'script','\/\/load.sumo.com\/');<\/script>\n<!-- \/SEO Ultimate Plus -->\n\n<div><span style=\"font-family: Verdana; font-size: 10pt;\">Conflicting information and figures concerning the <a class=\"wl-entity-page-link\" title=\"Real estate\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/real-estate\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/real_estate;http:\/\/rdf.freebase.com\/ns\/m.023907r;http:\/\/dbpedia.org\/resource\/Real_estate\" >property market<\/a> are not uncommon.\u00a0Now, new<\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\">figures from the Council of <a class=\"wl-entity-page-link\" title=\"Mortgage loan\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/mortgage-loan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/mortgage_loan;http:\/\/rdf.freebase.com\/ns\/m.0273t5w;http:\/\/dbpedia.org\/resource\/Mortgage_loan\" >Mortgage<\/a> <a class=\"wl-entity-page-link\" title=\"Loan\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/loan\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/loan;http:\/\/rdf.freebase.com\/ns\/m.01dnzs;http:\/\/dbpedia.org\/resource\/Loan\" >Lenders<\/a> (<a class=\"wl-entity-page-link\" title=\"Council of Mortgage Lenders\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/council-of-mortgage-lenders\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/council_of_mortgage_lenders;http:\/\/rdf.freebase.com\/ns\/m.099sp7;http:\/\/dbpedia.org\/resource\/Council_of_Mortgage_Lenders\" >CML<\/a>) indicate that the desire of Britons to be <a class=\"wl-entity-page-link\" title=\"Home insurance\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home-insurance\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home_insurance;http:\/\/rdf.freebase.com\/ns\/m.0313mp;http:\/\/yago-knowledge.org\/resource\/Home_insurance;http:\/\/dbpedia.org\/resource\/Home_insurance\" >homeowners<\/a> is as high as it has ever been, but the likelihood of people jumping onto the property carousel in the near future is diminishing.<\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><strong>Putting off purchases<\/strong><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">The Independent reports that around 85 per cent of people interviewed said that they hoped to be living in their own <a class=\"wl-entity-page-link\"  href=\"https:\/\/www.thehouseshop.com\/property-blog\/property\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/property;http:\/\/rdf.freebase.com\/ns\/m.05wrt;http:\/\/dbpedia.org\/resource\/Property\" >property<\/a> a decade from now.\u00a0This represents the highest figure since records began, back in 1975. <\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">However, there has been a drop in the number of people who expect to be living in their own <a class=\"wl-entity-page-link\" title=\"Housing estate\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/housing-estate\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/housing_estate;http:\/\/rdf.freebase.com\/ns\/m.01rtvp;http:\/\/dbpedia.org\/resource\/Housing_estate\" >home<\/a> in the short term.\u00a0Just 76 per cent of respondents would like to own their own home within two years, compared to 78 per cent in 2007.<\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><strong>\u2018Lower appetite\u2019 for <a class=\"wl-entity-page-link\" title=\"homes\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/home\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/home;http:\/\/rdf.freebase.com\/ns\/m.01l0mw;http:\/\/dbpedia.org\/resource\/Home\" >home<\/a> ownership amongst younger people<\/strong><\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">The CML said that the drop in people wanting to own their own home reflected a \u2018much lower appetite for home ownership in the near future among younger people\u2019. Only 42 per cent of respondents aged between 18 and 24 replied that they wanted to own their own home within two years.\u00a0This is despite the fact that the 18-24 age group was the most likely to want to live in their own property in 10 years&#8217; time at 88 per cent.<\/span><\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><strong>Rents going up<\/strong><\/span><\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">The CML research coincided with a recent report from LSL Property Services which showed that <a class=\"wl-entity-page-link\" title=\"Landlord\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/landlord\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/landlord;http:\/\/rdf.freebase.com\/ns\/m.02mx_6;http:\/\/dbpedia.org\/resource\/Landlord\" >landlords<\/a> increased <a class=\"wl-entity-page-link\" title=\"Renting\" href=\"https:\/\/www.thehouseshop.com\/property-blog\/renting\/\" data-id=\"http:\/\/data.wordlift.io\/wl0502\/entity\/renting;http:\/\/rdf.freebase.com\/ns\/m.01y857;http:\/\/dbpedia.org\/resource\/Renting\" >rents<\/a> in August for the seventh month in a row.\u00a0The average cost of renting a property in the UK rose to \u00a3686 in August 2010, a 1.4 per cent increase on July and the largest increase in almost a year.\u00a0<\/span><\/span><\/span><\/span><\/span><\/div>\n<div><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">The consistent rise in rents is a symptom of more and more people putting off <a href=\"https:\/\/www.thehouseshop.com\/property-for-sale\">buying a property<\/a>, which in turn has increased the demand for rental homes.\u00a0<\/span><\/span><\/span><\/span><\/span><\/div>\n<p><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\"><span style=\"font-family: Verdana; font-size: 10pt;\">\u00a0<\/span><\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Conflicting information and figures concerning the property market are not uncommon.\u00a0Now, new figures from the Council of Mortgage Lenders (CML) indicate that the desire of Britons to be homeowners is as high as it has ever been, but the likelihood<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/www.thehouseshop.com\/property-blog\/young-people-putting-property-purchases-on-hold\/\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"wl_entities_gutenberg":"","_lmt_disableupdate":"","_lmt_disable":"","spay_email":""},"categories":[16],"tags":[],"wl_entity_type":[602],"modified_by":null,"_wl_alt_label":[],"jetpack_featured_media_url":"","wl:entity_url":"http:\/\/data.wordlift.io\/wl0502\/post\/young_people_putting_property_purchases_on_hold","_links":{"self":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/765"}],"collection":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/comments?post=765"}],"version-history":[{"count":6,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/765\/revisions"}],"predecessor-version":[{"id":15176,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/posts\/765\/revisions\/15176"}],"wp:attachment":[{"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/media?parent=765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/categories?post=765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/tags?post=765"},{"taxonomy":"wl_entity_type","embeddable":true,"href":"https:\/\/www.thehouseshop.com\/property-blog\/wp-json\/wp\/v2\/wl_entity_type?post=765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}