| You are in: Business | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Thursday, 30 January, 2003, 00:00 GMT 'First time buyers must wait till 34' ![]() People are waiting to get on the property ladder First time buyers are getting older, according to new government data.
The figures from the Office for National Statistics underline how difficult it is for many first time buyers to get a foot on the property ladder. Property prices on average have risen by 90% since 1991 and first time buyers in London and South East are faced with paying as much as �250,000 for a mere shoebox-size home. The findings follow on from a survey which said soaring property prices were forcing single people to buy homes in undesirable areas. Locked out It seems that runaway house prices and marriage later in life is prompting many people to delay the purchase of their first home. In 1974 the average age of a first time buyer was 30, but by the end of 2001 it was 34. An increasing number of people are having to opt for unsafe areas in their pursuit of a place on the property ladder. According to research by finance company Zurich, just under two-thirds of single homeowners say they feel unsafe in the area where they bought their home. However, many are being forced to do so because of the high cost of property. Four in ten said they had little choice because of their budget. But many are concerned about the areas they live in. Three out of 10 said they felt unsafe walking home at night, while 15% disliked waiting for public transport and 7% said they felt anxious sleeping in their own at home. | See also: 30 Sep 02 | UK 10 Jan 03 | Business 23 Oct 02 | Business Internet links: The BBC is not responsible for the content of external internet sites Top Business stories now: Links to more Business stories are at the foot of the page. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Links to more Business stories |
![]() | ||
| ---------------------------------------------------------------------------------- To BBC Sport>> | To BBC Weather>> | To BBC World Service>> ---------------------------------------------------------------------------------- © MMIII | News Sources | Privacy |