Younger homemovers remain committed to buying a house, despite high prices and mortgage rates, according to research from LRG.

More than eight in 10 home movers aged under 45 consider owning their own home essential, challenging the idea that younger generations are losing interest in homeownership.

Research conducted by estate agency group LRG found that 84% of respondents under 45 regarded owning a home as essential, compared with 70% of those aged 65 and over. Across all age groups, the figure stood at 75%.

The findings suggest that, among those moving home, the aspiration to own remains strong, even as affordability pressures make achieving it more difficult.

When asked what they would prioritise if starting out today, 82% of respondents said they would buy a home to live in, compared with just 6% who would choose a property to let.

More than half (55%) said they would prioritise saving for a deposit, even if that meant going without other things, while 24% would seek to balance saving with enjoying life in the present.

Homeownership in England has remained relatively stable over the longer term. The House of Lords Library puts the proportion of households that own their homes at around 65%, broadly in line with a decade ago but below the 71% peak recorded in 2003.

Mark Manning, managing director of Northern Estate Agency Group, part of LRG, said younger buyers remained committed to the goal.

“I hear it said a lot that younger people have stopped caring about owning, but that isn’t who comes through our doors,” he said.  Across Manning Stainton, Ryder & Dutton and Mortimers, we meet people in their twenties, thirties and forties who know exactly what they want and have usually been working towards it for years.”

The time needed to save a deposit varies considerably across the country.

Nationwide estimates that saving a 10% deposit would take around four years in the North, compared with nine years in London, assuming buyers put aside 10% of average net pay.

Stamp Duty Land Tax can add to the difference. First-time buyers in England currently pay no Stamp Duty on properties costing up to £300,000, subject to the applicable eligibility rules.

Analysis by Zoopla published in July found that just 2.1% of properties viewed by prospective first-time buyers in the North East during the first half of 2026 would attract Stamp Duty, compared with 79.7% in London.

Population trends also highlight differences between regions. The Office for National Statistics reported that the North West was the fastest-growing English region in the year to mid-2025, while London’s population fell by 0.29%.

In Manchester, first-time buyers accounted for 70.2% of mortgaged property purchases in 2025, according to Lloyds.

Manning said that, although property prices had also risen in the North, saving for a deposit could remain a more attainable goal than in more expensive markets.

“Prices have gone up here too, so it still takes commitment,” he said. “But a deposit here is still a target people can see the end of, and that changes how they go about it. They plan, they save and they turn up ready to go.”

Further details are expected at the Budget on 28 October on the government’s proposed Your First Home scheme, which would allow eligible first-time buyers in England to purchase a new-build property with a 2.5% deposit, supported by a 20% equity loan.

Tim Foreman, managing director of Land and New Homes at LRG, said deposit assistance could help address one of the main barriers facing aspiring homeowners.

“For most first-time buyers, the deposit is the hurdle, not the wish to buy, so help with it is welcome,” he said.

Foreman added that buyers should assess the scheme’s terms carefully rather than delay a purchase in anticipation of potential support.

“Help to Buy took a few months to bed in before people understood it, and this may be the same,” he said. “Anyone ready to buy now shouldn’t feel they have to wait. Look at the detail on the 28th, work out what the loan would cost you and see whether it suits.”

Manning urged prospective buyers to establish what they could afford before concluding that homeownership was beyond their reach.

“My advice to anyone under 45 who thinks owning is out of reach is to get the numbers done properly before deciding that,” he said. “Find out what you can borrow, what the deposit really needs to be and what the whole move will cost. Sometimes it’s closer than people assume.”