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First-time home buyers 'trapped'

The average age of a home-mover trading up to a new property has risen to 40 as many younger people remain trapped in houses or flats they purchased as first-time buyers before prices crashed in 2007.

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Average age of second-time house buyers rises up to 40

The average age of a home-mover trading up to a new property has risen to 40 as many younger people remain trapped in houses or flats they purchased as first-time buyers before prices crashed in 2007.

Average age of a home-mover trading up to a new property has risen to 40. Credit: Anthony Devlin/PA Wire

Figures from Lloyds TSB suggest that while government initiatives such as the Help to Buy scheme have given new first-time buyer numbers a boost, many young families are still struggling to move up into bigger properties years after they acquired their first starter homes.

The report showed that the average age of a home-mover had risen from 37 in 2002 to 40 today, with the majority of the increase since 2007.

Read: Carney vows to curb housing bubble risks

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