First-time buyers: key reasons for wanting to own a home in the UK 2019

Published by Statista Research Department, Feb 18, 2020
For younger (18-40) potential first-time buyers in the United Kingdom (UK), owning their very own home is their top life goal. In fact, respondents to a Santander survey on potential first-time home buyers found that younger people put owning a home above financial security, getting fit or even having children/starting a family.

In 2019, the main reason for wanting to own a home was the fact that it provided a sense of security. Over a third of respondents also said that it was a means of future wealth preservation and that it was cheaper than renting.

Main reasons why people want to buy their own home in the United Kingdom (UK) in 2019*

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Source

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Release date

July 2019

Region

United Kingdom

Survey time period

May 2019

Number of respondents

5,002 respondents

Age group

18-40 years

Special properties

Potential first-time buyers

Supplementary notes

* This question was phrased by the source as follows: "Why is owning a home a key life goal?"

** Full answer "It’s a means of future wealth preservation – something to pass on to my children"

Figures rounded.

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