Rise in over 50s buying first homes

In a surprising shift within the property market, the number of first-time buyers (FTBs) over the age of 50 has surged by more than 30% in the past five years. This change comes as younger demographics, particularly those aged 30 and under, find themselves increasingly sidelined due to stretched affordability.

The decision to embark on homeownership later in life reflects a broader trend of individuals waiting until their financial circumstances are more stable, or they have accrued sufficient savings. This is particularly evident in London, which, despite having the lowest proportion of over-50 FTBs, has seen the most significant growth rate in this demographic, with a 64% increase from 2018 to 2022.

Forecasts suggest that by 2030, over-40s will constitute a quarter of all first-time buyer transactions, with the over-50s segment accounting for 5%. This evolving landscape underscores a fundamental shift in the property market, challenging traditional notions of first-time homeownership.

For many in this age bracket, buying a home is not just a financial investment but a lifestyle choice, reflecting their desire for stability, comfort, and a space that aligns with their life stage and future plans.

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Contact Heenay Joshi Property Experts on 07864 942 768 or hj@hjpe.co.uk.

Explore our 11-step strategy for a hassle-free sale or access our buyer guides to navigate the buying process.

Contact Heenay Joshi Property Experts to explore our 11-step strategy for a hassle-free sale or access our buyer guides to navigate the buying process.

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With our area guides and live feed of local market data, you can stay informed about the latest trends in the property market in Warwickshire and make well-informed decisions.

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