A “generational divide” in the UK property market is likely to cause further subdued sales this year, with young people unable to buy and older home owners unwilling to sell, a study has found.
One in 10 Britons would consider moving home or trying to get on the housing ladder in the next six months, the HSBC Moving Home Survey said.
The study found that older people in households which planned to stay put were more likely to be content with their current property, whereas younger people were finding themselves unable to move because of concerns.
Of those who were not looking to move, 61 per cent of people aged 55 and over said it was because they were happy in their home compared with just 28 per cent of those aged 34 and under.
Younger people who were not planning to buy or sell a property said they did not have a big enough deposit, they were concerned about not getting a mortgage or they were worried about job prospects.