Growing numbers of home owners across the region who are planning to take their second step on the property ladder think it is getting harder to make the jump, a report has found.
Despite typically sitting on more than £100,000 of equity, nearly two-fifths(39%) of 'second steppers' surveyed believe it will be more difficult to sell their home this year compared with 12 months ago, this is an increase compared with 18% of second steppers who felt this way when a similar survey took place in 2015.
Second steppers are often couples and young families moving on from theirfirst-time buyer flats to get more space and a garden.
It comes as the average price gap faced by 'second-steppers' across the UK between their first and second home is around £108,923 in the East Midlands, and £140,645 in the West Midlands.
The research found a lack of confidence about selling among this group, despite 45% of second steppers feeling that their equity position has improved over the last year.
Around one in three are considering staying put and improving theirexisting home rather than moving.While 32% said they are struggling to find the right property and 26% are worried about the uncertain economic climate.
Andrew Mason, Lloyds Bank mortgage director, said:
"Second steppers are telling us that finding the right property can be tough, and because of that they're delaying their move.However, if too many second steppers hold out for a long time for their dream home this could reduce the availability of homes for first-time buyers and slow the market."