The average age of first-time buyers continues to rise (Picture: Getty Images/iStockphoto)
New data has revealed a significant demographic shift in the UK property market.
According to Santander’s latest figures, one in five (22%) first-time property purchasers in 2025 are aged over 40, representing an increase from 18% in 2024.
Remarkably, the oldest first-time buyer supported by Santander in the current year was 70 years old, highlighting a trend that challenges long-held assumptions about the typical age of new homeowners.
And as the average age of first-time buyers continues to rise, experts have criticised the lack of housing supply as a key reason why young people struggle to get on the property ladder.
The rising age of first-time buyers
The average age of first-time buyers in the UK has been steadily approaching 40 over recent years.
Meanwhile, Santander’s data indicates a 14% growth from 2024 to 2025 in buyers aged over 60, with the oldest supported first-time buyer increasing from 67 to 70 years old during the same period.
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Conversely, the proportion of younger buyers aged 25 and under has dropped sharply by 23% compared with the previous year, indicating a marked demographic shift in those entering homeownership.
David Morris, head of homes at Santander, attributed this trend in part to diverse pathways allowing older buyers to enter the market, including family gifts, inheritance, and long-term savings.
He added: ‘It is never too late to realise your homeownership dream.’
However, Morris raised concerns over growing disparities between generations, a consequence of stamp duty changes and persistent shortages in housing supply.
Shortages in housing supply are disadvantaging first-time buyers (Picture: Getty Images)
Santander’s findings align with recent research from My Home Move Conveyancing, which found that the average age of first-time homeowners has climbed to 34 in the South East of England — marking the most substantial increase nationwide over recent years.
Earlier this year, Halifax noted an increase in first-time buyers entering the market, with a 19% increase in 2024 compared to 2023.
But they simultaneously reported rising average buyer ages and heavier deposit requirements, mirroring broader market challenges.
Expert reactions to the age of first-time buyers
Andrew Montlake, CEO of mortgage broker Coreco, described the findings as ‘all the proof you need that the UK property market is broken.’
He criticised the chronic shortage of homes for driving prices up, as well as high inflation and rents making it difficult to save for a deposit.
He called for a long-term, cross-party strategy led by a housing tsar with industry expertise.
And additional industry voices underline the urgency for large-scale homebuilding.
Mortgage specialist Katy Eatenton linked the demographic changes to the country’s failure to increase housing stock at the necessary pace, and wealth advisor Riz Malik pointed to an increasing dependency on parental financial support due to the growing wage-to-property price gap.
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Emma Jones, managing director of Whenthebanksaysno.co.uk, forecast a continued rise in the average first-time buyer age unless government policy makes housing supply a priority.
Jones acknowledged lenders’ evolving attempts to assist buyers but stressed that without addressing supply constraints, homeownership will remain unattainable for many.
Santander’s data shines a spotlight on the urgent need for comprehensive policy reform and increased construction of affordable homes.
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Without coordinated action, the generational divide in homeownership risks widening, and the dream of owning a first home may continue to elude many across age groups.
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