CONFIDENCE among the UK’s ‘second-steppers’ is on the up according to a new survey.
Almost 40 per cent per cent of the country’s first time homeowners are planning to take their second step on the property ladder, the latest figures from Clydesdale and Yorkshire Banks reveal.
The results show the number of first-time buyers planning to move jumped by 14 per cent compared to the same period last year. Among those planning to up sticks, a third are doing so out of necessity, while 24 per cent are focused on moving up the property ladder.
Thirty-eight per cent of first-time buyers in Scotland are planning to move, with 26 per cent staying put and 36 per cent unsure.
The research also underlined the variety of aspirations of ‘second-steppers’ across the UK. Those in the North East and North West are the most focused on moving with 48 per cent per cent hoping to buy a new home, compared to just 29 per cent per cent of those in the South West.
But for those unsure about moving, affordability is cited as the main concern for almost one in three (30 per cent). A further 29 per cent said they were worried about finding their dream home while almost one in five (18 per cent) feel hesitant about taking on a larger mortgage.
Steve Fletcher, head of customer banking networks for Clydesdale and Yorkshire Banks, said: “Second steppers often have more factors to consider than first time buyers. These include having enough room for a growing family or being close to a specific school.”
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