Confidence amongst ‘second steppers’ - those aiming to sell up to move to larger homes - is improving according to a survey from the Clydesdale and Yorkshire banks.
Almost 40 per cent of first time homeowners surveyed are planning to take their second step on the property ladder - a third more than this time last year.
About a third are moving out of necessity as their families have outgrown the size of their existing home; most of the rest are focused on moving up the property ladder, notwithstanding economic and political uncertainty.
The research also underlined the variety of aspirations of ‘second steppers’ across the UK.
Those in the North East and North West are the most focused on moving with 48 per cent hoping to buy a new home, compared to just 29 per cent of those in the more expensive South West of England.
For those unsure about moving, affordability is cited as the main concern for almost one in three. Another 18 per cent were hesitant about taking on larger mortgage commitments, even if they could afford to do so.
.png)
.png)
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment