Egg reveals average homeowner settles down at 38

16 May 2005
Egg has found that the average age for people in the UK to settle down and purchase their long-term family home is 38.

A recent survey by the online bank also found that most people own three homes during their lifetime.

Most of these are in a similar area, with the average person moving just three miles away from their previous address, and almost half of homeowners moving less than five miles away.

"Our research clearly illustrates that we all want to live in nicer homes, in nicer areas which have good potential and will cater for our financial futures," said Andy Deller, director of banking and insurance at Egg.

"But what it also obviously highlights is that British homeowners are motivated by a desire to climb the housing ladder, to improve their surrounding environment for themselves and their families before finally settling down into their long term home."

The research revealed that two-thirds of homeowners had moved house last time motivated by aspirations to live in a better home, rather than by necessity.

Just under a quarter (23 per cent) moved to keep up with the Joneses and impress family and friends - whilst as many as one in four were inspired by television property programmes.

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