In 2024, the average age of recent first-time buyers in London was slightly higher than the England average. Across the UK, first-time buyers accounted for approximately 290,000 home sales. First-time buyer prices and mortgages In London, the average value of a mortgage for first-time buyers was far higher than all other regions in the UK. Apart from the initial cost of a down payment, those that can afford to, see monthly payment savings against those renting. In certain parts of the country, annual savings of buying against renting saw first time buyers amounted to over two thousand British pounds. Help to buy To encourage first-time buyers, the UK government started the "Help to buy" scheme. The scheme sees people saving for a first-time home receive a 25% bonus to their savings when purchasing a house valued at 250,000 British pounds (450,000 British pounds in London). Between December 2015 and March 2018, the North West of England saw the highest number of Help to buy ISA bonuses paid.

Since 2011, the average age of British citizens buying their first home in the United Kingdom (UK) increased by three years. In 2011, the average age for the country was 29, while in 2023, it reached 32 years. Nevertheless, the average age varied in different regions.

Approximately 75 percent of Americans aged 25 to 33 who bought a home were first-home buyers, whereas 44 percent of home buyers between 34 and 43 bought their first home in that year. Gen Z and Millennial first-time buyers It is no surprise that many Gen Z (18 to 24 years old) and Millennial (25 to 43 years old) home buyers are mostly first-time home buyers. These home buyers are in the early stages of their careers, or still studying in some cases, and often struggling to repay student debt, so they need to save for many years before they afford a down payment. When do they sell? These generations tend to stay in their first homes for several years, which means that the majority of home sellers are older than them. The share of income needed to afford a trade-up home is significantly lower than the money needed for a starter home. A trade-up home is a larger and more expensive home, which homeowners often buy after living in their starter home, or their first home, for several years. This progression generally happens when homeowners have climbed the career ladder and increased their incomes.

Graph and download economic data for Consumer Unit Characteristics: Percent Homeowner by Age: from Age 25 to 34 (CXUHOMEOWNLB0403M) from 1990 to 2023 about consumer unit, age, homeownership, 25 years +, percent, and USA.

The average age of first-time buyers (FTBs) in Ireland increased by 1.4 years between 2017 and 2023. In 2017, the average age of first-time homebuyers was 33.9 years. In 2023, the average homebuyer was 35.3 years old. During the same period, the age of second and subsequent borrowers experienced slightly less variation.

About 15 percent of homebuyers in the United States in 2022 had a median household income between 100,000 and 124,999 U.S dollars. This was the median income range with the largest share of homebuyers in the United States that year. Among them, 19 percent were between the age of 18 and 24 years old.

Data on resident buyers who are persons that purchased a residential property in a market sale and filed their T1 tax return form: number of and incomes of residential property buyers, sale price, price-to-income ratio by the number of buyers as part of a sale, age groups, first-time home buyer status, buyer characteristics (sex, family type, immigration status, period of immigration, admission category).

The majority of home buyers in the United States in 2021 purchased homes that cost 500 thousand U.S. dollars or more. Homes over 500 thousand U.S. dollars were purchased by 22 percent of buyers from the 42 to 56 age group who made up the largest share of buyers in that category.

The average sales price of new homes in the United States experienced a slight decrease in 2024, dropping to 512,2000 U.S. dollars from the peak of 521,500 U.S. dollars in 2022. This decline came after years of substantial price increases, with the average price surpassing 400,000 U.S. dollars for the first time in 2021. The recent cooling in the housing market reflects broader economic trends and changing consumer sentiment towards homeownership. Factors influencing home prices and affordability The rapid rise in home prices over the past few years has been driven by several factors, including historically low mortgage rates and increased demand during the COVID-19 pandemic. However, the market has since slowed down, with the number of home sales declining by over two million between 2021 and 2023. This decline can be attributed to rising mortgage rates and decreased affordability. The Housing Affordability Index hit a record low of 98.1 in 2023, indicating that the median-income family could no longer afford a median-priced home. Future outlook for the housing market Despite the recent cooling, experts forecast a potential recovery in the coming years. The Freddie Mac House Price Index showed a growth of 6.5 percent in 2023, which is still above the long-term average of 4.4 percent since 1990. However, homebuyer sentiment remains low across all age groups, with people aged 45 to 64 expressing the most pessimistic outlook. The median sales price of existing homes is expected to increase slightly until 2025, suggesting that affordability challenges may persist in the near future.

Nearly one out of four European consumers who were tenants in 2019, believed they would not be able to buy a home in the future. This belief was especially shared in the Netherlands, Belgium, Germany, France, and the UK. However, those who did expect to eventually become first-home buyers believed it was more likely to happen once they passed the age of 35. Indeed, in 2019, roughly 16 percent of European respondents believed they had to wait until they were older than 35 to be able to buy a property.

Graph and download economic data for Housing Inventory: Median Days on Market in the United States (MEDDAYONMARUS) from Jul 2016 to Feb 2025 about median and USA.

The homeownership rate was the highest among Americans in their early 70s and the lowest among people in their early 20s in 2023. In that year, approximately 81 percent of individuals aged 70 to 75 resided in a residence they owned, compared to approximately 23.6 percent among individuals under the age of 25. On average, 65.9 percent of Americans lived in an owner-occupied home. The homeownership rate was the highest in 2004 but has since declined.

For the past decade, buying a home in the UK has been more affordable than renting one, when only considering the monthly costs. The renting versus buying gap fluctuated during the period and in 2016, it reached its highest value of 131 British pounds. In 2023, the monthly costs for a first-time buyer were 1,231 British pounds, compared to 1,258 British pounds for renters. Rental growth vs house price growth Housing costs in the UK have been on an uprise, with both renting and buying a home increasingly unreachable. Though the monthly costs of buying have consistently been lower in the past decade, house price growth has been much stronger than rental growth since the beginning of the pandemic. Additionally, buyers have been affected by the aggressive mortgage rate hikes, making acquiring their first home even less affordable. Barriers to homeownership Buying a home is not straightforward. For younger (18-40) potential first-time buyers, there are a number of barriers. Approximately one in three first-time buyers point out that raising a deposit was the main obstacle. Other reasons stopping buyers were not being able to take out a mortgage on their current income and poor credit ratings. Unsurprisingly, the highest share of people who buy a home with a mortgage was in the age group of 45 to 55-year-olds.

The majority of home buyers in the United States in 2023 across all age groups purchased a home between 1,501 and 2,500 square feet in size. 33 percent of the young millennials (25 to 33 years old) and 31 percent of the silent generation (78 to 98 years old) purchased a home about the same feet in size.

Existing Home Sales in the United States increased to 4260 Thousand in February from 4090 Thousand in January of 2025. This dataset provides the latest reported value for - United States Existing Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The average age of second and subsequent buyers (SSBs) in Ireland showed an upward trend between 2017 and 2023. In 2017, the average age stood at 41 years, which then increased to 41.3 years in 2018. There was a further rise to 42 years in 2019. However, in 2020, there was a slight dip to 41.8 years. Over the following three years, the average age continued to climb, surpassing 42 years in 2021 and ultimately reaching its peak at the highest recorded average age of 42.45 years in 2022. Meanwhile, the average age of first-time buyers also increased.

This statistic shows the distribution of the French who made the first real estate purchase in 2016, according to the age group. We observe that more than 30% of the first-time buyers of real estate were between 25 and 28 years old.

This statistic displays the average age at which French people buy a principal residence in 2019. At that time, 41 percent of principal residence owners had purchased their property when they were between 25 and 30 years old. In contrast, 6 percent of French people were over 60 years old when they bought their principal residence.

In 2022, San Jose, CA, was the hottest market for millennial homebuyers in the United States. Millennials in San Jose were responsible for nearly 64 percent of the house purchase requests. Denver, CO, and Boston, MA, completed the top three with over 60 percent of purchase requests. Which are the states with the youngest population in the U.S.? It should come as no surprise that the demographic composition plays a central role in the development of the housing market in different states. In 2020, the median age in the United States was 38.2 years, but some states, such as Alaska, District of Columbia, and Utah had much younger population. In contrast, Maine, Puerto Rico, and Hampshire had the highest median age of population. Millennials’ attitudes towards homeownership While many millennials have given up on homeownership, one in three people share that they are in the process of saving for a home purchase. These results suggest that young Americans have not entirely given up on the American dream of owning a home of their own.

The distribution of all owner-occupier households in England in 2024 varied per age group, as well as the type of home financing. The older the age group, the larger the share of owner-occupier homeowners who purchased their home outright. A share of 2.1 percent of own outright homeowners were between the ages of 25 to 34, whereas a share of 62.1 percent of own outright homeowners were aged 65 and over. Although this is the case, the largest share of homeowners who purchased their house with a mortgage was in the age range of 35 to 44 years old.