Cambridgeshire property agent, Lovett Residential, has revealed that first time buyers today are nearly 10 years older than their counterparts in the 1990s.
“We’ve been looking at our statistics, and were amazed to find that the average age for someone buying their first property today is 33, while in 1997 it was just 24,” explains partner Terry Lovett.
The huge rise in house values in the last ten years is obviously a major contributory factor, as is the need to pay off student loans. “Many of our clients simply cannot afford to contemplate a mortgage until they’ve finished paying for their university education, while others are relying on their parents to help them get a foot on the property ladder.”
“Of course, we’re happy to support all our clients, whether they’re thirty-something first time buyers, forty-something homeowners, or seventy-somethings looking for a little place in our beautiful Cambridgeshire countryside,” added Mr Lovett.
Lovett Residential has long-established links with the national property specialists movewithus, which means their clients also have access to excellent Conveyancing services, with the added bonus of movewithus’ revolutionary online office.
“We couldn’t offer our clients a service unless we had total faith in it,” says Mr Lovett. “But the movewithus online office and Conveyancing is a real customer-focused operation. It offers a fast efficient service, with transparency all the way through to completion, giving clients 24/7 access to information on how their purchase is progressing.”
Interestingly, today’s first time buyers also have far less time available. “Our thirty-something clients have busy careers and sometimes young families too. They don’t have time to waste hunting out solicitors or surveyors: they want our help there as well.”
“I wouldn’t have been able to find the deposit required without my parents help” admits Nick Windsor, 28, a first-time buyer who works in London. “But Lovett Residential found me the ideal two bedroom home in Eynesbury, arranged an affordable fixed-interest mortgage and sorted the solicitor as well”.
Lovett Residential has a long established reputation in St Neots for reliability and honesty in both sales, and in recent years, lettings. And they’re now witnessing an interesting phenomenon: clients looking to buy today are often customers who’ve been renting property through them for the last ten years. As Mr Lovett says, “We’re finding that the twenty-somethings who came to us to find rental flats and houses a few years ago, are now looking to buy their first home and want help from the friendly faces they know they can trust.”