Egg reports on long-term mortgaging habits
www.moneynews.co.uk > Housing market > Egg reports on long-term mortgaging habits
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Money News |
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Egg reports on long-term mortgaging habits
Thu 12th May 2005
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The average homeowner has lived in their current home for 14 years, and tends to settle down into a long-term family home at the age of 38, the research shows.
Just over a third (35 per cent) stated they were likely to own between three and five properties in their lifetime. Only six per cent of those polled said they would own more than five properties and just one per cent thought they would own ten or more properties before settling down.
The research also found that the average Briton will move only three miles from the previous address, with almost a half moving under five miles.
Andy Deller, banking and insurance director of Egg, said: "Our research clearly illustrates that we all want to live in nicer homes, in nicer areas which have good potential and will cater for our financial futures.
"But what it also obviously highlights is that British homeowners are motivated by a desire to climb the housing ladder, to improve their surrounding environment for themselves and their families before finally settling down into their long-term home."
Related News : Housing market |
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Related News : Egg |
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