ALMOST 40 per cent of the UK’s first timers are now planning to take their second step on the property ladder.
That’s the verdict from Clydesdale and Yorkshire Banks, whose figures reveal growing confidence among what it calls “second steppers”.
The number of householders planning to put their first home up for sale has increased by 14 per cent, according to the bank’s research.
Among those second steppers, a third are planning to move house out of necessity as they feel they have outgrown their current home. Meanwhile, 24 per cent want to move up the property ladder.
The bank asked those who are unsure about moving the reasons behind their apprehension. One in three cited affordability.
Of those questioned 29 per cent are worried about finding their dream home and one in five is worried about taking out a larger mortgage.
Steve Fletcher, head of customer banking networks for Clydesdale and Yorkshire Banks said: “Second steppers often have more factors to consider than first time buyers. These include having enough room for a growing family or being close to a specific school."
Regionally the bank found that those in the North East and North West are the keenest on moving. In those areas 48 per cent of first time owners said they hoped to buy a new home. In the South West, however, only 29 per cent of those living in their first home said they planned to buy their second one.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Comments are closed on this article.