New research reveals 60% of first-time buyers (FTBs) live in their first property for less than five years before moving on.

According to a survey by Money.co.uk Mortgages, 37% of FTBs move within three to five years, 20% move within one to two years and 3% move within a year. At the other end of the spectrum, 3% didn’t take the next step until 31 years or more.

Government statistics show that most Brits enter the property market at the age of 30, which is two years younger than 20 years ago.

The Money.co.uk Mortgages research found 43% of people have currently bought just one house to live in, although this doesn’t factor in any possible future purchases.

Among the youngest buyers (in the 18-24 age bracket), the first purchase is unlikely to be their forever home, with 63% likely to move on in one to two years.

Just under a third of homeowners (30%) stay in their second property for three to five years.

When it came to the third rung of the ladder, 35% of 45-54-year-olds have bought three homes or more, compared to 45% of those aged 55-64. Predictably, the figure is lower for 25-34-year-olds at 10%.

Almost two-thirds of the over 65s have gone even further, buying four or more homes to live in throughout their lives. And 61% of people over 65 reported being in their forever homes and didn’t intend moving again.

The report notes that ‘getting onto the property ladder can seem like the end goal for some, but many move up or down once they get a foot on the ladder’. Moving to a bigger home was among the most common reasons for moving up the ladder.