They’re just starting out their lives, but a quarter of married couples are finding it hard to get on the housing ladder according to Alliance & Leicester Mortgages.

Additionally the Alliance and Leicester Moving Index has shown that people in their 20s and 30s just can’t afford their own home.

The A&L study shows that one in four (25%) married renters would like to get on to the housing ladder, but simply cannot afford to make the move from renter to homeowner.

Only one in ten (13%) of married renters are in a position to buy their first home compared with six per cent of singletons who rent.

Unsurprisingly, single people are facing the greatest struggle to branch out. Only one in five singletons own their own home (20%) with a third (37%) preferring to live at home with their parents. The remainder are renters (40%).

The survey showed that of those in their 30s, over a third (39%) are wanting to buy their own home, but say they cannot afford to.

Those in their 20s are even less likely to be homeowners of most age groups. Alliance & Leicester found that the majority of this age group are renters (51%) with almost a quarter (23%) still choosing to live at home with their parents.

Staying at home
Despite living at home, only four per cent of those who choose to stay at home are financially in a position to look for their first home. Nearly one in five (17%) want to buy, but cannot afford to.
Of all the regions, those in the North East are most likely to live at home and they are five times as likely to do so as those in the East Midlands (15% vs 3%).

First Time Buyers expectations
Alliance & Leicester reported that over half of first time buyers (58%) are looking to spend under £120,000 on their first property.

This expectation last quarter where 48% were planning to spend up to this much. However, according to the OPDM, the average first time buyer home in the UK costs £144,509.

Those in their 20s are planning to spend the least on their first homes. Sixty nine per cent of the 20-29 age group expect to spend under £120,000 and more men (67%) than women (50%) hope to buy their first home under the stamp duty threshold. (£120,000)