Homeowners believe they are just two moves away from buying their 'forever house'

More than half of Brits believe they will secure their dream home eventually - but expect to wait until they're in their Fifties.

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Homeowners are optimistic about the time it will take them to move into their ‘forever house’.

Almost three-quarters of property owners believe they will be able to buy their long-term family home in no more than two more moves, according to a survey by Lloyds Bank.

However, four out of five homeowners believe they will have to wait longer to buy their ideal long-term home than they would have done a decade ago.

Lloyds revealed that the biggest aspiration for those surveyed was ownership of a three-bedroom house, while one in four said that they ideally want a four-bedroom home. The most popular ‘extras’ on homeowners’ wish lists were gardens, garage space and conservatories.

House prices started falling slightly after Britain voted to leave the EU and are forecast to fall by one per cent in 2017 but to pick up again in 2018, according to the latest three-year housing forecast by Countrywide.

Nationally, the average price of a three-bedroom house is £222,745. But Londoners will have to pay considerably more with the average asking price of a home in the capital now £472,204 according to the latest ONS House Price Index. In fact, a recent PrimeLocation survey puts the value of a dream home in central London at a whopping £9,753,816.

“There’s still a perception amongst a large number of homeowners that their long-term aspirational home seems far off and they are not moving up the housing ladder as quickly as they had hoped, although this perception has been gradually improving over the last few years,” said Andrew Mason, Lloyds Bank mortgage products director.

“Those who are further up the property ladder appear to be more satisfied with their progression, whereas those who are just starting out may feel that they have a mountain to climb before they reach their long-term home. Despite that, first-time buyers are in a slightly better position to move than they were a year ago and are the group most likely to be on the move.”

A separate report from PrimeLocation has found that while one in nine Brits already own their dream property, two thirds of buyers would be prepared to make financial and lifestyle sacrifices in order to secure their perfect home.

And while more than half of Britons believe they’ll secure their dream home at some point in their lives – but they don’t expect to reach the goal until they are 55-years-old.

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