Lone household numbers increasing 'significantly'

15-Dec-2006

First time buyers are increasingly opting to live alone, new research suggests.

According to a study by Alliance & Leicester and the Centre for Future Studies, the number of first time buyers opting to live alone will increase by around 209,000 - 53 per cent - over the next 20 years.

Over the same period, the number of "family households" is expected to fall to 18.5 per cent, a drop of 1.5 per cent.

"Our … report shows the demand for housing will increase over the next 20 years," said Stephen Leonard, director of mortgages at Alliance & Leicester.

"The pressure will come from the changing make-up of households, as we see more people living on their own and the concept of the traditional family home [being] eroded," he added.

In order to cope with the rising number of single-occupancy households, the reports' authors predict an increase in the construction of flats and house conversions.

The Centre of Future Studies is a consultancy firm, specialising in predictions on a number of topics, including the future of the economy and the expectations of surveillance technology.

To find out which is the best first time buyer mortgage for your situation, contact a good mortgage broker.

As the market for first time buyers toughens, new companies are offering new services to help first time buyers buy new properties by working with the house-builders.

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