Thousands of young families are trapped in their first homes because they cannot afford to move up the housing ladder.

Two-thirds of those who are looking for a bigger home have been unable to make the move they want for at least 12 months, research shows.

A combination of factors, including a lack of affordable property, high deposits on mortgages and a shortage of buyers, are leaving these couples stuck in limbo – and paralysing the rest of the housing market.

Two-thirds of those who are looking for a bigger home have been unable to make the move they want for at least 12 months, research shows

The research, by Lloyds TSB, found one in five of these ‘second steppers’ believe it is harder to move up the property ladder than to get on it in the first place.

And 43 per cent believe finding and financing a second home is just as difficult as buying their first.

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The average price of a ‘second stepper’ home is some 5.2 times gross household salary.

For first time buyers, the ratio is 4.1.

Stephen Noakes, the mortgage director for Lloyds TSB, said: ‘It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again.

‘If second steppers get stuck on the first rung, movement at the bottom half of the ladder comes to a standstill, and this bottleneck will not only restrict the supply of starter properties but will have a knock-on effect across the whole of the housing market.’

via >Thousands of young families trapped on first rung of the housing ladder | Mail Online.