Homebuyers insights

Discover Aldermore’s new First Time Buyer Index 2024

Buying your first home can be an overwhelming experience, with so many aspects to consider. Today, first time buyers face more challenges than ever due to cost of living rises and the current economic climate.

In our new report, ‘First Time Buyer Index 2024’, we surveyed 500 new first time home buyers and 2,000 prospective first time buyers to discover how they feel about the purchasing process, the challenges involved in the experience, and the facts and figures you need to know.  

Key findings: 

  • 40% of actual first time buyers said they have not been able to save as much as they thought they would
  • 23% of prospective first time buyers said they were declined for a mortgage 
  • 91% of first time buyers who used a broker, said they had a good experience
Person moving into new home

Source: Research conducted, on behalf of Aldermore bank, by Opinium between 30 May – 14 June 2023, with a nationally representative sample size of 2,000 prospective first time buyers and 500 actual first time buyers who bought since May/June 2021. 

 

Download the full report