A third of young people between the ages of 16 and 21 say they would prefer to live abroad, if a recent survey by UCB Home Loans, the specialist lender of Nationwide, is to be believed.

Forming part of a wide-ranging study into young people’s attitudes towards the housing market, the survey found that 32% of the young people questioned said they would prefer to live abroad rather than in the UK.  Slightly less girls (31%) than boys (33%) expressed this desire and emigrating was least popular with young people from Yorkshire and the North East.  At 43%, on the other hand, young people in Wales couldn't wait to leave the country.

UCB Home Loans estimates that a reasonable proportion of the 32% who would like to live abroad will actually achieve their dream.  Figures from the Office of National Statistics show that 208,000 British people moved abroad in 2004 alone – the latest year for which figures are available.

The overwhelming majority (92%) of respondents hoped to eventually own their own home with two-thirds (66%) believing they would buy their first property between the ages of 25 and 30.  The proportion of kids aspiring to buy was significantly lower in Yorkshire at 85%.

However, UCB Homes Loans isn't quite so optimistic about their chances.  Managing Director Keith Astill said: "Whilst 92% of the young people interviewed want to own their own home when they are older, it is likely that some of them will never actually make it.  Statistics currently show that approximately 70% of the UK population own their own homes."

He went on: “The age at which people make their first purchase of a property has also been rising over recent years, and a large proportion of those who are hoping to buy their first property by the age of 27 will not be in a position to do so,” he said. “Latest figures from the Council of Mortgage Lenders show that the average age of a first-time buyer is now 34.”

A larger proportion (91%) of the 16-21 -year-olds questioned in education were confident of eventually being able to buy a house than those already in employment (87%) at this time.  Confidence of being able to get on the property ladder in the future also varied significantly by region with the South-west the most pessimistic at 80% and with most optimism coming from the North-East and Eastern parts of the country at 96%.

48% of those who think they will buy a property imagine it will no more than £150,000.  5% of respondents obviously have grand designs believing their first home will cost between £301,000 and £500,000.

Again Mr Astill has bad news for our young people:  “Almost half of those questioned think their first purchase will cost under £150,000,” he said.  “Nationwide’s December housing review shows that the average UK house price currently stands at £157,250 and the average price for first-time buyers is £128,105. Assuming that the majority of sixteen year-olds will not make their first property purchase for another 15 years or so, by which time prices are likely to have increased significantly, it is likely that many of them will need to pay more than they currently expect. Fifteen years ago, the average UK house price was just £54,313 some £102,937 lower than it is today.”

Then again, young people evidently don't think much of the mortgage broking profession with two thirds of respondents saying they would rather be an estate agent when they grow up...

• The research was undertaken in November 2005 by Marketing Sciences Ltd on behalf of UCB Home Loans. Face-to-face interviews were undertaken among 1,080 16-21 year-olds, with quotas for age, sex, status and regional location set to mirror the UK population.

• UCB Home Loans is the specialist lending subsidiary of Nationwide Building Society. It specialises in selfcertification lending to the self-employed and others on variable incomes, as well as buy-to-let lending. Its mortgages are available through mortgage intermediaries and from UCB Home Loans direct.