First time buyers choose to stay close to home

Young people in Exeter who are flying the nest are not getting very far - instead choosing to buy their first property just a few miles from home.

A survey conducted by One Poll, on behalf of leading housebuilder Barratt Homes, has revealed that almost 70% of first time buyers in Exeter under the age of 35 are likely to move within a 20 mile radius of their family home.

Female buyers are even keener to stay close, with 25% preferring to only move up to 10 miles away, compared to 32% of males who would consider moving up to 20 miles away.

The figures have been released to mark First Time Buyer Fortnight. The nationwide campaign, running from 17 February, gives potential homebuyers advice on taking their first steps onto the property ladder and ways to afford a first home.

And the survey coincides with a recent report from the Halifax, which revealed there were about 265,000 first-time buyers in 2013, a rise of 22% from 2012 and the strongest increase since 2001.

Barratt sales director, Lee Monk, commented: “Buying your first property is a huge decision and location will play an enormous factor. By staying close to home, buyers already have knowledge of the neighbourhood and established local connections, which can be very appealing.

“For any buyer though, our advice is always to research the area you are thinking of moving to and think what is most important to you, such as commuter links and local facilities.”

Barratt currently has a range of developments in Exeter including Hillside Gardens and Rydon Place.

For advice on the schemes Barratt has to offer for first time buyers call 0844 5710 385, or log onto www.barratthomes.co.uk