Rising house prices cause delay in starting family

The high price of home ownership is causing some couples to delay starting a family, according to the latest figures.

Some 63% of couples who are putting off starting a family pin the blame on a rise in property prices.

One in five people aged between 31 and 44 who do not have children feel they are being forced to delay having kids as high house prices makes it too difficult to secure a home which is large enough to accommodate their needs. Rental properties do not generally offer enough long-term security for those hoping to have children either.

The research from housing charity, Shelter, found that 26% of those who are putting their family plans on hold claim to have been doing so for five or more years.

The charity believes that more than a million people in this age bracket could be delaying their plans to start a brood because of housing issues.

This marks a 63% rise in the number of people putting off having children because of potential housing coasts compared to a similar study taken three years ago.

A significant number of first time buyers have been forced to remain in the private rental sector as lenders require larger deposits and landlords eat away at any savings with record high rent rates.

The study found that one in three first time buyers are now aged 35 and over.  The weak economy has caused banks and lenders to impose strict lending criteria which many buyers cannot meet.

This has led to a significant drop in the number of mortgage approvals year-on-year. As a result, the number of mortgages which require just a 10% deposit has dramatically fallen over the last six months.

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Posted by: WarrenWilson Categories: Buying, Estate Agents, House Prices, Selling Tags: , Comments Off on Rising house prices cause delay in starting family

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