More singletons buying homes than married couples

More people are now buying their first home on their own, rather than as part of a married couple, it has been reported.

Santander Mortgages figures reveal that since 2006, 37 per cent of first-time buyers have been single while 29 per cent bought with their spouse.

The number of people buying their first property with their husband or wife has declined from 84 per cent in the 1970s to 57 per cent in the 1980s, 46 per cent in the 1990s and 35 per cent at the start of the millennium.

Helen Adams, managing director at FirstRungNow.com, said that whereas people previously opted to buy their first home with someone else in order to spread the costs, many are now simply turning to their parents for financial support.

Ms Adams added that first-time buyers will continue to struggle to access the housing market this year, but the government's pledge to increase capital gains tax could prove beneficial.

"Anything that helps to leave more properties that are more affordable for first-time buyers is going to be a good thing," she said.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2010-06-03 08:38:09 © Moneyextra.com