According to recent research by a UK housebuilder (Bellway), 87 percent of Brits say they will not give up avocado on toast in order to purchase a property.
The Property Perception Survey – commissioned in response to comments by Australian property tycoon Tim Gurner urging millennials to stop buying avocados on toast and expensive coffees in order to save for a deposit – asked more than 2,000 UK residents what they were prepared to forfeit for five years in order to save for a deposit for a home.
The majority of those asked hit back saying that giving up such little luxuries would not make a difference when house prices are as high as they are currently. However, 35 percent said they would be happy to give up nights out or a holiday for five years and 30 percent said they would stop ordering takeaways.
Interestingly, almost half (48%) of those surveyed said they were more likely to queue up for a home than to meet their favourite celebrity or to purchase new technology – a clear sign that buying a home is still a top priority for many young people.
While many millennials continue to struggle to get on the property ladder, there are government schemes available such as help to buy, which can help people buy their first home or move up the ladder.
Seymours Land & New Homes has a number of developments in Surrey and further afield offering such initiatives. For more information on the options available and how they could help you get moving in 2018, contact 01483 355444.