First home 'more important than uni'
Potential students delaying university to buy first home
Also In The News
|
England's under-21s have been knocked out on penalties at the European Championships in Holland by the hosts and defending champions after a mammoth shootout. |  |
Thursday, 21, Jun 2007 07:54
Young adults in Britain are reportedly putting off university in order to get a foothold on the property ladder.
A survey reveals one in ten potential university students said they have sacrificed their studies in order to put money away to fund their first home.
Lloyds TSB, which conducted today's research, says a further third want higher education tuition fees cut to help them become a homeowner.
"The fact people are willing to forgo their education highlights the importance of homeownership to the younger generation," commented Alison Burns, mortgage sales director at Lloyds TSB.
The bank claims that one in five people aged 18 to 24 years old regard buying their first home as their number one priority, with homeownership beating travelling the world and getting married in a list of the most popular goals to be achieved before respondents turned 30.
Of the 1,000 people quizzed as part of the research, one in five said they had accepted a better paid job at the expense of their first career option in order to help them buy a house, while one in six juggles two jobs.
And 55 per cent of people said that they thought they needed to earn a minimum of £30,000 a year to buy their first home.