04 October 2017
Nearly a third of all young people aged 18 - 34 would choose to buy and live in a caravan if they couldn’t afford to get onto the property ladder, a new survey from My Home Move has revealed.
The survey of 1,000 people across the UK, aged between 18 and 34, looked to discover what alternatives people would turn to if they couldn’t afford a traditional bricks and mortar home using a mortgage. The results showed that most people favoured the idea of a caravan (29%), followed by a lodge (24%) and canal boat (13%).
Speaking of the results, Doug Crawford, CEO of My Home Move said,
“Being able to own your own home is still an aspiration for most young people; however despite the Help to Buy schemes, a rise in gifted deposits and shared ownership programmes, the reality is that for many, getting on the property ladder is still too expensive.
“What our research clearly shows however is that the desire for a home is still very real, as less than 2% said they would continue renting long term, and that most would think creatively to secure themselves a future property. These findings suggest that as an industry we could do more to support aspiring home owners by developing and providing inventive housing solutions.
“Affordable housing doesn’t just need to be a brick built starter home; instead the concept of modular housing or inexpensive designs which replicate elements of a lodge or caravan could be employed to help young people realise their dream. Maybe what we need to consider is instead of there being a first rung to the housing ladder, we need a base plate which can be accessed by all aspiring first-time buyers.”