New research from Alliance & Leicester has revealed that first time buyers are putting off buying their first home until they have met their Mr or Mrs Right! Their latest study has found that one in four first-time buyers sees buying a property as going hand in hand with marriage vows, refusing to get onto the property ladder until they are wed! Of those who are looking to buy with their partner, 39% see sharing a mortgage as a symbol of love and commitment. Couples who are renting seem to be more cautious about buying a property. Fourteen per cent of these couples said that they were not ready to buy their first house with their partner, with another 26% saying that it was not the right time in their relationship to take that step. One in five of the couples that were renting said that they would prefer to buy on their own, without their partner, to keep any potential profits from the sale of the house to themselves!
Our view:
We believe that if property were cheaper, more would buy before finding that partner. This is a question of affordability rather than 'love'.