48% of Scots believe they will never be homeowners: poll

13 July 2018, 07:09

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Almost half of Scots believe they will never own their own home, new research has found.

A poll for Bank of Scotland found this is the case for 48% of people - with almost a third (31%) stating never owning a property is now "normal".

The bank said the survey, carried out by pollsters at YouGov, showed how "attitudes to home ownership are changing".

More than a third think they will use the Government's Help to Buy scheme when purchasing their own home (35%), making it the second most popular source of help for would-be buyers behind purchasing a property with a partner, which was cited by 41%.

Almost three out of 10 (29%) plan to save up the necessary cash by working extra hours or getting an additional job, with 22% anticipating some help from a family a member.

Amongst those still living with their parents but aiming to buy a home, four-fifths (79%) think this is something they will be able to achieve before their 36th birthday - with 48% aiming to get on the property ladder between the ages of 26 and 30.

A quarter of parents (25%) say they are happy to help their children with the costs of buying a home, with 6% saying this is something they feel under pressure to do.

Ricky Diggins, network director for Bank of Scotland, said: "Attitudes towards home ownership are changing, with many people reassessing if and when they will make their first property purchase.

"However, many people still dream of owning their own place, and even though it is arguably harder to buy now than ever before, there is help at hand. Lots of people look to get help from their family, or partners, and are coupling that support with schemes like Help to Buy to help them take that first step on to the property ladder."