Latest News From My Home Move - the UK's leading conveyancer
04 August 2017
The alternative housing choices young people would make if they couldn’t get on the property ladder
- New survey reveals the alternatives young people would buy, if they couldn’t get on the property ladder
- Nearly a third (29%) of those aged 18 – 34 said they would choose to buy and live-in a caravan if they couldn’t afford a bricks and mortar home; with lodge and canal boat taking second and third place
- The Lord of the Rings inspired earth and straw-bale self-build houses proved the least popular choice (3%)
Nearly a third of all young people aged 18 – 34 would choose to buy and live in a caravan if they couldn’t afford to get onto the property ladder, a new survey from My Home Move has revealed.
The survey of 1,000 people across the UK, aged between 18 and 34, looked to discover what alternatives people would turn to if they couldn’t afford a traditional bricks and mortar home using a mortgage. The results showed that most people favoured the idea of a caravan (29%), followed by a lodge (24%) and canal boat (13%).
Speaking of the results, Doug Crawford, CEO of My Home Move said,
“Being able to own your own home is still an aspiration for most young people; however despite the Help to Buy schemes, a rise in gifted deposits and shared ownership programmes, the reality is that for many, getting on the property ladder is still too expensive.
“What our research clearly shows however is that the desire for a home is still very real, as less than 2% said they would continue renting long term, and that most would think creatively to secure themselves a future property. These findings suggest that as an industry we could do more to support aspiring home owners by developing and providing inventive housing solutions.
“Affordable housing doesn’t just need to be a brick built starter home; instead the concept of modular housing or inexpensive designs which replicate elements of a lodge or caravan could be employed to help young people realise their dream. Maybe what we need to consider is instead of there being a first rung to the housing ladder, we need a base plate which can be accessed by all aspiring first-time buyers.”
Nearly half (40%) of young people in the North East would choose a caravan over other housing options, close to 10% over the national average; while the thought of a treehouse appealed to no-one. In comparison, young people across East Anglia actively preferred the thought of a lodge (34%) almost twice as much as a caravan (17%).
Young people across Wales, the South East and London were the most taken with the idea of a Tiny House construction – an idea championed by George Clarke and his Amazing Spaces; while the idea of a tent was only really popular in the West Midlands.
The choice of an earth/straw-bale self-built home was the least popular across nearly all the regions, suggesting the time for a Hobbit inspired home has now passed.
* Data is available upon request