Investment Property News from Assetz

Assetz® Property News Service

Most young adults aren't saving for UK mortgages

31st October 2012 | back to article listings BACK    print this article PRINT

The majority of young adults are not saving to buy a house, and those who do save end up dipping into their savings on a regular basis, a new study shows.

Only 31% of young adults surveyed said they were saving for a mortgage.

Of the majority who are not saving up to take their first steps in the property ladder, 55% said they didn't earn enough money to save yet.

The survey by MyVoucherCodes asked those who said they were saving to buy their first property how much they were able to save on average each month. The average amount saved each month was 150.

The majority of the savers (62%), however, admitted they needed to break into their savings 'most of the time'.

"I think we have to look at this research in a positive light. Yes, young adults may be taking money out of their savings, but at least there are savings there in the first place. If they were taking out more than they were saving each month, then there would be problems," said Mark Pearson, chairman of MyVoucherCodes.

Copyright Press Association 2012

Assetz® is a UK Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz Finance

Accessing the news service

You can view all of the Assetz® UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

Cookies on our sites
The group of websites uses cookies, some of which may have been set already. Read about our cookie use. If you continue to use the site, we'll assume that you're happy to accept them. To dismiss this message please click the button.