The property website Rightmove has revealed that 27% of people planning to buy a home in the next year will be doing so for the first time, up 23% on last year's figures, but still a long way off the 40% level seen before the credit crunch.
The study also found that graduates will be driving the return of first time buyers; of those intending to buy their first home, seven in ten (69%) are university educated, with 39% having a degree and 30% a postgraduate degree.
The majority (62%) of prospective first-time buyers are also living with their parents in order to save for a deposit, with the study revealing that graduates are able to build up an average deposit of £35,000, compared to an average £25,000 for those without a university degree.
The study also found that the average age of a graduate first time buyer, at 30, is two years' younger than the average non-graduate first-time buyer, at 32.
Commenting on the research, Rightmove's director, Miles Shipside, said: " Joining the world of work straight from school may start your earning career a few years earlier, but in the current housing market it seems the downside is that it may delay being able to satisfy your home-ownership aspirations."
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