Young people 'want more affordable house prices'

Young people 'want more affordable house prices'House prices need to level out over the long-term and become more affordable in order to attract more young Britons to take their first steps on the property ladder, it has been claimed.

Katy John, spokesperson for PricedOut.org.uk, said because property prices are so high, many young couples are finding that even with two decent incomes they are unable to afford to buy a home.

Furthermore, many couples were now finding that they both needed to work, meaning neither could cut down on their hours to plan starting a family.

Her comments comes after research by Shelter revealed up to 2.4 million people are delaying having a family because of the high cost of housing.

Furthermore, 22 per cent of 18 to 44-year-olds have waited for up to six years to start a family, with 37 per cent expecting housing costs to continue to delay their plans for another four years.

"[High property prices] are not what young people want to see; they want to see house prices levelling out in the long-term and becoming more affordable," Ms John noted.

Young people in the UK may find that choosing property to rent in Islington or another part of London provides them with time to save up to buy a home.

Written by Martyn Glynn

Published 21st January, 2010

© 2010 Estates IT Limited

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Young people in the UK are keen to see house prices become more affordable to them, it has been suggested - and until that happens they may instead wish to consider property to rent in London.

Young people 'want more affordable house prices'

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