Young aged people (18-34) have more commonly reported that their biggest concern is purchasing property. Almost one third of house purchases get derailed, costing the purchaser thousands. Calls are out for government regulation to prevent such disastrous outcomes. The system is inherently flawed and purchasing a house can be a long, expensive and extremely stressful process
for potential buyers of any age. Consumer groups hope that the government can fix this outdated process to make it easier and more successful when purchasing a home.
Key Takeaways:
- Consumer reporting suggests home-buying is the biggest concern among young people.
- Energy concerns and elder care rank lower than home-buying concerns for those in the 18-34 year old bracket.
- It’s estimated that three in ten potential home sales fail, leading to a £2,200 loss for the potential buyer.
“Separate research out this week revealed that the cost of moving house has gone up by around 25 per cent in the past 10 years, to a whopping £9,472.”