Young people in London 'expect ten-year wait to afford a home'
Young people wanting to buy a property in London are expecting a wait of at least ten years, according to new research.
The National Housing Federation survey, carried out by YouGov, revealed that 37 per cent of Londoners are putting off starting a family as a result and a further 22 per cent would delay marriage.
Katy John, a spokesperson for affordable house campaigners PricedOut.org.uk, suggested this could lead to young adults leaving the city or even the country in search of affordable housing.
Furthermore, Ms John appealed to political parties to prioritise the issue in the run-up to the election on May 6th.
"Whoever gets into power at the general election needs to consider the long-term future of the country and the impact that high house prices are having on society as a whole," she added.
With house prices in the capital continuing to stay strong, many young people may think twice about plans to buy their first homes and consider looking for property to rent in the London borough of Bexley, or elsewhere in the city, instead.
By Charles Mackay
Published 15th April, 2010
© 2010 Estates IT Limited
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People may decide to look for property to rent in the London borough of Bexley, or elsewhere in the capital, after new research suggests young people living in the city may need to wait at least ten years to afford to buy a home.