Survey finds majority are worried about saving for house deposits

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17th May 2016 12:50 - Housing

According to a new survey which was conducted on behalf of BLP Insurance and HomeOwners Alliance, the majority of Scottish people are worried about saving money for a deposit on a house as well as the availability and quality of homes on the market.Survey finds majority are worried about saving for house deposits

The annual survey started in 2012 and questions 2,000 adults in the United Kingdom about the latest housing concerns, as well as the latest trends affecting those who own a house and those who hope to own one.

The survey, entitled "the 2016 Homeowner Survey", also showed that the desire to own a house has been increasing steadily since 2012.

Of the respondents who do not own a home, 73 per cent said that they aspire to own a home, an increase on 2015’s 69 per cent, 2014’s 68 per cent and 2013’s 65 per cent.

The top concerns nationally are the ability for first time buyers to get on the housing ladder, with 82 per cent saying that this is a serious problem, and their ability to save for a deposit (80 per cent saying that this is a serious issue).

The survey findings also showed that the amount of aspiring homeowners who feel that the availability of houses is a real problem has increased from 72 per cent in 2015, to 78 per cent in 2016. In Scotland alone, the figure stands at 70 per cent, also an increase on 2015.

Those who hope to own a house were also found to be concerned by the quality of homes on the market at a rate of 60 per cent.

It was discovered that there has been a notable decrease in those who are worried about stamp duty, following the Government’s stamp duty system reforms. Amongst the respondents in the United Kingdom, 44 per cent said that they were worried about negative equity, a marked difference from 64 per cent in 2014.

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