65 per cent of young professionals do not own a home according to National Homebuyers

Just 35 per cent of professionals aged under 30 own their own property and most believe that getting onto the property ladder is simply too expensive.

[UKPRwire, Mon Nov 26 2007] With high interest rates, stamp duty and other associated costs, it is little wonder that 66 per cent of respondents told Endsleigh that they cannot afford to buy.

It is bad news if you are trying to find someone to buy your property and the firm highlights that many people actually underestimate how much it costs to buy a home.

People aged between 23 and 26 years are the most optimistic about home ownership, with 75 per cent saying that they believe they will own a property within the next five years.

But the research shows that 45 per cent of people aged 31-35 years still do not have a house.

"Huge numbers of young professionals across the country are finding it simply too expensive to get on the property ladder and are choosing to rent, or live with their parents, into their 30s as a result," said Stuart Wartalski, spokesman for Endsleigh.

"Our specialist policy for those in rented accommodation is proving more popular than ever before and it's clear from our research that this is reflective of a broader social trend," he continued.

Fast property sale expert Julian King adds, "The average age of owning your first property is getting older and older.

"Only half of early-thirties owning their own home is a sign of the times. We anticipate this not to improve in the forseeable.

"With fewer buyers available, there are increasing concerns for those looking to sell their home. There will certainly be a huge wait as people look to sell their property on the open market in order to attract a buyer at the right price.

"Homeowners looking for a quick sale will need to find alternative methods of selling their home".

Mr King is a director of National Homebuyers, the UK's leading fast property purchase firm. The Sussex-based busines guarantees to make an offer to purchase any property in the UK for vendors who need a quick cash house sale.

The Endsleigh study also found that the average tenant pays almost half as much in rent each month as a homeowner does in mortgage payments.

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