UK Homebuyers: Older, More Flexible, Less Kids

0:00Stay informed in two minutes or less with Lester News today from the Daily News Now. First time home buyers in the UK are getting older, the average age is climbed from 29 in the mid-1990s to 34 today. Recent data shows just 6% are under 25, down sharply from 23% back then. Buyers are changing in other ways too. Fewer have kids now, just a quarter compared to a third a decade ago. At the same time, more rely on two or more full-time incomes, up from 40% in the 1990s to 52% recently. Perspective buyers are ready to make big compromises. Nearly 80% say they would sacrifice to get on the property ladder. Most would give up garden space or settle for a flat instead of a house. Almost three quarters would move about 12 miles farther out, and 7% even more than 40 miles. Experts point to tough affordability and life changes. Most prices have outpaced wages, rents have soared, and people are hitting milestones

1:02later after longer education. Lenders need to innovate with flexible products amid rising rates from global tensions. Looking ahead, typical buyers in 2026 could still owe on mortgages at age 65, 6 years longer than today. Longer terms help with payments now, but mean repaying into retirement. D&N is brought to you by our sponsor. When you want calm, do not reach for your phone. Lay back and listen. S-O-L-I-SOLYPILLOW.COM