Nearly half of first-time buyers move over 20 miles away from parents – survey
Nearly half of first-time buyers end up moving more than 20 miles away from their parents, according to a survey.
Some 45% of people who have bought their first home said their property was more than 20 miles from their family home, Zoopla found.
This was despite six in 10 (60%) saying it was important to have relatives nearby.
High house prices in some areas and the need to live close to work may be other factors influencing where first-time buyers choose to purchase a home.
However, the survey found that one in 12 (8%) people purchased their first home within a mile of their parents, 14% bought between a mile and three miles away, and 11% moved within three to five miles away.
People in the North West of England were the most likely to buy their first home close to where they grew up, with 14% starting out on the property ladder within a mile of their parents’ house.
In Scotland, 13% moved less than a mile from their family, and in Wales 11% of first-time buyers moved to a home within a mile.
First-time buyers in the South West of England were the most likely to have moved more than 20 miles away from their parents, the survey found, with 55% saying they had done this.
In London, 53% had bought their first property more than 20 miles away from where they grew up, the survey of 2,000 home-owners found.
Zoopla has a series of guides on its website to help first-time buyers.
Consumer spokesman Richard Houston said: “Moving out of your parents’ house into your own home is a real milestone and a life-changing moment for many people.
“When it comes to getting on the ladder, our research reveals that, despite a desire to be close to family, buying in the same area as your parents for many people appears to be a thing of the past.
“Whether it’s due to constraints around affordability, moving for employment opportunities or even if they simply want to start out on their own, first-time buyers are choosing to flee the nest.”
Here is how far first-time buyers moved from their parents, according to Zoopla, with the percentages who moved within a mile followed by those who moved over 20 miles away:
– South West, 4%, 55%
– East of England, 7%, 53%
– London, 3%, 53%
– Yorkshire and the Humber, 7%, 49%
– South East, 5%, 48%
– East Midlands, 8%, 43%
– North East, 9%, 42%
– Wales, 11%, 37%
– West Midlands, 10%, 35%
– Scotland, 13%, 35%
– North West, 14%, 31%