The average age of those taking out a first-time buyer mortgage with Clydesdale and Yorkshire banks is now 30, the institutions have revealed. The study also found that there is a significant difference between average house prices for each age range, going from £104,021 for under-25s to £240,709 for 31 to 35-year-olds.
One-third of first-time buyers were aged under 25 and just under a third were between 26 and 30. Meanwhile, more than one in ten property buyers making their first investment were over 41, indicating that many people are still struggling to take the step to home ownership.
“We remain committed to supporting first time buyers and have a range of competitive products to help them throughout the process,” said Steve Reid, retail director for Clydesdale Bank. He added: “We are proud that we are helping buyers of all ages to buy their dream home and take their first step on the property ladder.”
