Second-time buyers are getting older
There are a number of different factors that can tempt owners of
property towards an estate
agent to make their second purchase and move up the ladder,
including things like better prices, more affordable mortgages and
finding their dream home.
However, despite this, many are still anticipating living in their
first home for far longer than their parents and
At the moment, the average second timer expects to move up the
ladder 14 years after getting their first home, taking the average
age to 42.
This compares to those currently in a second home, who would have
waited just nine years and purchased at 39, and those in the 60s,
who would have waited only three years to move to a second home at
the age of 28.
John Willcock, head of mortgages at Post Office, said: "Taking that
all-important step onto the housing ladder sometimes seems like the
biggest hurdle a homebuyer will face. However, we can see that it
doesn't get any easier as people try to move up the property ladder
and second-time buyers can face their own set of