Young people need 'major lifestyle changes' to get on property
Living at home with their parents for longer is just one way in
which young people can boost their chances of getting on the
property ladder, according to PricedOut.
Katy John, press officer for the organisation, said that "major
lifestyle compromises" are needed so that they can afford to build
up a big enough deposit to purchase a home.
This includes moving out to cheaper areas and facing longer
commutes into work. Co-locating for a bigger period of time and
reducing spending on nights out and other luxuries will also
"The government needs to take real action now and stop looking to
small-scale housing gimmicks such as the NewBuy scheme, which does
more to help disgruntled house builders than first-time buyers," Ms
Her words came after Halifax revealed that 67 per cent of all
affordable housing sales were accounted for by first time buyers,
with the average price paid under these schemes being