Buy-to-let
Wannabe first-time buyers over the age of 21 are more interested in semi-detached houses in the suburbs with period features, according to research by Yorkshire Building Society.
In a study of over 1400 aspiring first-time buyers between the ages of 16-40, the research found that while the idea of inner-city living in a new apartment appealed to those aged 16-21, priorities changed for older aged groups.
At the ages of 16-21, 62 per cent want a new build property, 32 per cent would like a flat and 43 per cent wish to be inner-city based.
Over the age of 21 however, 52 per cent would ideally like to buy a property with period features, 52 per cent would like to be based in the suburbs and 32 per cent would prefer a semi-detached property.
Tanya Jackson, Media Relations Manager at the Yorkshire, said: The trendy new-build flat in the city could become a thing of the past. The younger age group that aspire to live in this type of property is increasingly priced out of the market.
The vast majority of older buyers would prefer to live further out in older properties with period features.
The top reasons for people wanting to buy a property, rather than rent, are consistent throughout different age groups and the sexes.
In owning a property people are looking for a more secure place to live, stopping wasting money on rent, have something to be proud of, and a good investment.
A significant number of wannabe first-time buyers expect to receive financial help from their parents, even well into their own careers, people still need help from family to make it onto the property ladder.
Jackson said: This means that without help to first-time buyers, the trendy new flats that are rising in all our cities skylines may become less popular.
