Our friends in the U.S have been chasing the ‘American Dream’ for some time now, yet we Brits don’t really have a moniker for ‘making it’ in the UK. If we were to coin the ‘British Dream’, we imagine it would be celebrated every time someone took their first steps on the property ladder.

First-time buyers play a pivotal role in the UK housing market and represent a key driver of demand. Their average age has been steadily rising over the last few decades as properties have become less affordable in some parts of the country. However, schemes like shared ownership and help-to-buy have assisted the younger generation to get on the ladder, putting downward pressure on average ages of first-time buyers.

According to data from the council of Mortgage Lenders, in 2014-15, the majority of first-time buyers were aged 25-34 years (61%), similar to 1994-95. Between 1994-95 and 2014-15, the proportion of first-time buyers aged 16-24 years declined from 23% to 10%, while the proportion aged 35-44 years increased from 11% to 20%.

However, not all individuals have dreams of owning their own home; an increasing number of people are deciding they would rather rent so they can have more flexibility. Naturally, this pattern creates opportunities for landlords to purchase buy-to-let properties, either as a stand-alone investment to supplement their income or as part of growing their portfolio. Despite the recent changes to tax relief and stamp duty, landlords are still reaping the rewards of being involved in this sector.

The average price of a home in Aylesbury and the surrounding areas is £314,000 which means buyers need to stump up around £31,400 for a deposit. Add into the mix average gross earnings of residents in the same area, which sits at £31,725, and you can start to see why the picture in Aylesbury and the surrounding areas looks like it does. If you’re thinking of purchasing your first property, visit our website or pop into the office for a friendly chat and we can discuss all the options available.

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