News reports show home ownership for the under 45 age bracket has declined sharply since the global financial crises, with older age groups having maintained or is some cases increased their level of property ownership.
The report shows that in 2003/2004 around 64 per cent of this age group owned a home some 8 per cent less then the average home ownership rate across all ages.
Moving forward to 2015 and only 45 per cent of the under 45 year old age group were homeowners a substantial drop on the early figures and could be blamed on the financial crises with in that time period. However in this same time period 2015 the over 65 age group home ownership increased from 71 per cent to 77 per cent.
Rising house prices that require substantial deposits and income to tick all the boxes to secure a mortgage that for many has been more challenging particularly in the South may have played its part for first time buyers keen to get the first step on to the property ladder.
The report also goes on to mention that according to credit rating research by a leading company shows loan to income ratios of borrows in the south of England over the last 2 years can be up to 30 per cent higher then in northern parts of the country.
The report goes on to mention 70 per cent of first time buyers have a loan to income ration of there and a half times income or in many cases more and often borrowing at the edge of their capabilities and highlight of the risk involved.
Most Expensive Road to Buy a House
Victoria Road in Kensington, London is reported to be the most expensive street in England and Wales, with the average property costing over 8 million.
Close to Kensington Palace and the Albert Hall the average property in Victoria Road costs £8,006,000 according to research from leading high street bank.
Kensington and Chelsea offers a glamorous lifestyle attracting many overseas buyers, and is home to twelve of the twenty most expensive streets.