Almost a third (29%) of first time buyers surveyed by the Banks are setting their sights on buying a three bedroom house. Some 22% are aiming for a two bedroom flat and a fifth (20%) said they would like to buy a two bedroom house.
First time buyers in the Midlands are the most likely to buy a three bedroom house, compared to just 18% in Scotland, where the largest percentage (53%) said they would opt for a flat.
While first time buyers are looking to move into larger properties, they said they are also planning to stay in their first home for a number of years.
The largest percentage of those surveyed (23%) plan to stay for between four and five years with more than a fifth (21%) hoping to live in their first home for more than 10 years.
The majority of those buying a new home (56%) said they were the sole owner whilst 42% bought jointly with a partner or friend and when it comes to sharing space, it seems that men prefer to live on their own with 72% claiming to be searching for a bachelor pad. In comparison, just over half of the women surveyed (56%) said they were planning to live alone.
However finance was still a concern with 54% worried about getting a mortgage and more than two fifths (44%) of those surveyed admitting they were concerned about saving the necessary deposit.
Andrew Pearce, Retail Director for Clydesdale and Yorkshire Banks, said:
"Clydesdale and Yorkshire Banks remain committed to helping new homeowners through every step of the process. We are one of the few lenders still offering 95% LTV mortgages to first time buyers and can also help prospective homeowners to save the necessary deposit with our Regular Home Saver account."
