Wednesday 28th February 2007
First-time buyers would prefer to purchase a country cottage as their first home, research has found.
A survey by Abbey found that 24 per cent of first-time buyers would choose a country cottage over any other type of property.
Meanwhile, urban areas also proved popular, with town houses the second favourite type of property with 20 per cent of the vote.
However, fewer young people stated that they expect help from their parents with the purchase, as the proportion anticipating financial assistance fell to 9.7 per cent from 23 per cent in August 2006.
Nici Audhlam-Gardiner, head of mortgages at Abbey, said: "The decline in the number of potential homeowners relying on their parents is a positive indication that first-time buyers are finding alternative ways of funding their homes."
Previous research by the bank found that more than half of first-time buyers are willing to miss out on holidays and retail treats in order to pay for a deposit on a house.
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