Nearly half (47 per cent) of Brits aged 18 to 54 imagine themselves living in a three-bedroom house with a garden in 15 years time, according to Home Truths research study of Legal & General (L&G) and Cebr.
Having an own garden tops the aspirations table with more than three-quarters (78 per cent) of UK adults sharing their desire to have one, the research, which L&G is conducting together with the Centre for Economics and Business Research (Cebr), reveals.
Another highly sought for feature of a future home is an own parking space, named by almost two-thirds (63 per cent) of those polled. Half of aspiring buyers said a dream home should have proximity to a transport hub.
The study found that aspirations change with age as people over 55 said their dream home in 15 years time should be close to good healthcare facilities. A private garden is the desire of many in the 55+ age group as well as a good sense of community in the local area.
Stephen Smith, director at Legal & General Mortgage Club & Housing, said: “Our Home Truths study reveals a generation of homeowners staring over the garden fence at the larger properties owned by Last Time Buyers, many of whom are staring right back wishing it was easier for them to downsize!
“Last Time Buyers, for example, typically occupy larger properties, many of which are the type of property that under 55s aspire to own. There are 3.3 million ‘Last Time Buyers’ looking to downsize which could unlock housing supply for those looking for three-bed properties. Unfortunately, many have been unable to do so due to a lack of suitable homes for them to move to.
“Our research therefore demonstrates the importance of not only ramping up supply, but also ensuring that more properties are built of the right size and in the right places. This could effectively re-shuffle housing stock and make it easier for people to find their ideal home.”
