With 1 in every 7 of the nation’s homes already occupied by one adult, the government expects an EXTRA 4 million prospective sole occupiers to be looking for homes by 2033. That’s around 1 in 4 of us, – or 15 million ‘one person households’ making buying or renting homes for singles incredibly difficult.
We’re all familiar with the situation, – they’re simply aren’t enough affordable homes to go around and this causes house price inflation. A recent survey by the Nationwide showed that for first time buyers, gross house prices were on average 4.4 times earnings. That’s bad enough for couples, but twice the problem if you’re single.
This coupled with the requirement for borrowers to provide much higher deposits than in the past has made it more difficult than ever to buy your first home. According to recent figures, by Haarts estate agents the average first-time buyer is now paying out £166,393 for their first home with many getting help from their parents to get on the housing ladder.
Buying and renting homes for single people can be really hard. With the evidence pointing to banks and building societies refusing to lend at reasonable interest rates unless first-time buyers come up with bigger deposits of up to £30,000. This, combined with the credit crunch, high property prices and a shortage of homes means that two in three people are finding it difficult to get on the housing ladder and being single makes it harder.
According to the Census the numbers of homes with a single occupant is 29%. We represent a sizable chunk of the population and this trend looks set to continue. Perhaps its time for us to shout louder about the particular issues we face.
There is some good news though. You wont argue with yourself when choosing a prospective home. How many warring couples have Channel 4’s Phil and Kirsty had to referee when house-hunting goes bad? That’s one problem you won’t have to deal with.
Remember, we are totally independent, working on your behalf to provide up to date information and find the best deals for single consumers. If you have any housing tips for other singles that might help, LET US KNOW
So whether you’re renting, buying or own your home, Just4one has up to date information that you need to know.