At Swansea Building Society, we’ve spent over a century helping people take their first steps onto the property ladder. It’s a milestone that brings pride, security, and the sense of building something for the future. That’s why the latest research from the Building Societies Association (BSA) struck such a chord with us.
Their new report, Generation Stuck, paints a sobering picture of today’s housing landscape. It reveals that around 2.2 million people who would normally be expected to have bought their first home by now simply haven’t been able to. For those aged 25 to 44, almost six in ten renters expected they’d be homeowners at this stage in life – but haven’t managed to achieve it. Perhaps even more concerning is that a third of renters in that age group believe they may never be able to buy a home of their own.
The aspiration to own a home remains strong. In fact, the proportion of renters who say they don’t want to buy has halved in the last five years. But that aspiration is being blocked by a number of stubborn barriers – the most significant of which is the challenge of raising a deposit. Nearly seven in ten first-time buyers say this is the biggest obstacle in their path. Many also say mortgage repayments have become unaffordable, and that they struggle to access a mortgage large enough to meet the cost of a suitable home. On top of that, concerns about job security are now more common than they were even two years ago.
Confidence in the housing market overall is low. Only 15% of people think now is a good time to buy a property, and yet almost half expect prices to rise over the next 12 months. For many, it creates a sense of paralysis: prices are high, the costs of borrowing remain a concern, and there’s little faith that the situation will get easier any time soon.
At Swansea Building Society, we hear these concerns every day – and we understand them. Buying a home has never felt more out of reach for so many. But we also believe there is still a way forward, and that building societies like ours have an important role to play in creating it.
Unlike many large lenders, we take a personal, flexible approach to lending – looking at each customer’s individual circumstances and making decisions locally, not by computer algorithms or remote call centres. We understand that no two borrowers are the same. Whether someone is self-employed, working irregular hours, or navigating a non-standard career path, we listen to the full picture and tailor our support accordingly. We are proud to offer the kind of hands-on, considered service that helps people overcome the barriers they’re facing.
The challenges in the housing market are real, and they will not be solved overnight. But we believe that small, local actions can make a big difference – especially when they’re based on empathy, experience, and a genuine desire to help people thrive in their own communities.
If you’re dreaming of buying your first home – or wondering how to make it happen in the years ahead – we’d encourage you to talk to us. Whether you're ready to apply or simply need advice on what your next step could be, we’re here to help – with no pressure, no jargon, and a friendly team who truly understands the landscape.
Helping people into their own homes is at the heart of what we do. And we remain firmly committed to supporting the current generation of aspiring homeowners, just as we have for generations past.