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Under 30s set to kick-start property market in 2010

The main reason for moving for the under 30s is to get onto the property ladder, with 57.1% claiming that they hope to buy their first property in 2010. Other reasons include moving to a bigger property (28.6%) and relocating for lifestyle choices such as proximity to bars and restaurants (14.3%).

Rosemary Rogers, Director, reallymoving.com, said: "This research shows great tenacity from young people who have had their home ownership aspirations killed off in recent years by high prices and a severe shortage of lending.

"In order for the market to continue to prosper, new measures must be introduced by both lenders and the Government to help those at the lower end of the market make their longed for move. Initiatives such as abolishing stamp duty for first-time buyers and introducing Government backed low cost loans could both help the nation’s young reach their goal of owning a home.

"In the 50-60 plus age bracket the majority of respondents cited downsizing and relocating for lifestyle as the primary reasons for moving. As pensions have decreased in value and the retirement age rises increasingly this age group will be forced to move to release their property assets."

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