According to a survey by Yorkshire Building Society, the aspiration to become a homeowner diminishes significantly if not achieved by middle age. Among non-homeowners, 76% of 25 to 34-year-olds aspire to buy a home, compared to 59% of 35 to 44-year-olds. This figure falls to 38% for those aged 45 to 54, and just 20% of 55 to 64-year-olds still hope to own a property. Only 8% of over-65s without a home aspire to homeownership.
Homeownership Still Valued
Despite declining aspirations, nearly nine in ten (88%) people surveyed believe homeownership is important. Tom Simpson, managing director of homes at Yorkshire Building Society, stated: "Britain hasn’t fallen out of love with homeownership – far from it. People still see owning a home as central to their stability, their security and their future. But what’s changing is belief. For too many people, particularly those who haven’t bought by their late 30s, the dream starts to feel out of reach."
Survey Details
The research was conducted by Public First in March and April, surveying over 4,000 people across the UK, including more than 1,500 non-homeowners. The findings highlight a sharp decline in homeownership aspirations as age increases, suggesting that the window for achieving this goal narrows considerably after middle age.
