Homeownership is happening later in life, with over-50s now one of the fastest-growing first-time buyer groups
- The number of first-time buyers aged over 50 has risen by 47% in the past five years, making them one of the fastest-growing segments of the first-time buyer market.
- Shared Ownership is playing a growing role in later-life homeownership. Government data shows the proportion of Shared Ownership sales to over-50s rose by 17.6% between 2023 and 2024.
- In 2024, nearly one in five Shared Ownership homes was bought by a first-time buyer aged over 50.
- If current trends continue, by 2030 around one in four first-time buyers will be over 40, with one in 20 aged over 50.
LONDON, June 26, 2026 /PRNewswire/ — Analysis carried out by award-winning mortgage and savings platform, Tembo reveals a sharp and accelerating rise in first-time buyers (FTBs) aged 50 and over, underlining a broader shift towards homeownership happening later in life.
Over-40s: the wider context of delayed homeownership
Data from the Financial Conduct Authority’s Product Sales Data shows that the number of first-time buyers aged over 40 has grown by an average of 10.5% per year since 2020. This provides useful context for the rapid growth seen among over-50s.
By comparison, the overall first-time buyer market has expanded by just around 2% annually over the same period, with 314,000 first-time buyers recorded in 2022.
Despite modest overall growth, would-be buyers are facing longer saving periods and higher affordability barriers than ever before. Rising house prices, higher deposit requirements, and stricter affordability tests mean many are only able to buy their first home well into their 40s and 50s.
Over-50s: the fastest-growing later-life buyer group
Within this broader shift, growth among over-50s is particularly pronounced and varies significantly by region.
London has the highest proportion of first-time buyers aged over 50, with 5.56% of all FTBs in 2024 falling into this age group. Over the past five years, the number of over-50 first-time buyers in the capital has grown by more than half (51.9%), despite the overall number of London first-time buyers falling by 36.4% over the same period.
The North East has the second-highest proportion of over-50s first-time buyers, at 4.81%. This is notable given the region’s historically stronger affordability, suggesting delayed homeownership is no longer limited to high-cost areas.
At the other end of the scale, the East of England has the lowest proportion of over-50s first-time buyers, at 2.82% – nearly half the level seen in London. However, growth in the region is accelerating, with a 54.7% increase over the past five years, indicating continued momentum.
Richard Dana, Founder and CEO, Tembo, said: “Homeownership in the UK is shifting later and later in life, and this data shows just how quickly that change is happening. A near-50% rise in first-time buyers over 50 isn’t a lifestyle choice, it’s the result of affordability pressures building year after year. People are taking longer to save, longer to earn enough, and longer to feel confident they can make homeownership work.”
Shared Ownership increasingly supporting over-50s
Government data from the Ministry of Housing, Communities and Local Government further reinforces the rise in later-life homeownership.
Between 2023 and 2024, the proportion of Shared Ownership homes purchased by buyers aged over 50 rose from 14.8% to 17.4%, representing an annual increase of 17.6%. This suggests alternative tenure models are playing an increasingly important role in enabling over-50s to buy their first home.
What the trend means by 2030
Based on recent growth patterns, Tembo has developed projections for the age profile of first-time buyers by 2030.
Tembo’s 2023 forecast anticipated that 16.1% of first-time buyers would be aged over 40 in 2024. FCA data shows the actual figure was slightly higher, at 16.4%.
Assuming total first-time buyer numbers remain broadly flat at the five-year annual average of 360,000, Tembo estimates that by 2030 around 89,000 first-time buyers will be aged over 40, equivalent to one in four of all first-time buyer transactions.
Within that group, growth among over-50s continues to outpace expectations. While Tembo previously projected that 3.6% of first-time buyers would be over 50 by 2024, the actual figure has already reached 3.85%. By 2030, the number of first-time buyers aged over 50 is forecast to rise from 12,000 in 2022 to 19,000, accounting for 5% of all first-time buyers.
Richard Dana continues: “What’s striking is not just the growth among over-50s, but how widespread the trend has become. From London to the North East, more people are reaching mid-life before they’re able to buy their first home. The system needs to catch up with this reality and better support buyers whose journeys don’t follow a traditional timeline.”
About Tembo
Tembo is an award-winning digital savings and mortgage platform – offering a range of products to help customers find the best way to buy or refinance their home. Tembo combines technology and exceptional customer service to help consumers save for and buy their first home sooner. The brainchild of finance and technology expert Richard Dana, Tembo is backed with investment from Aviva. The Tembo Lifetime ISA was awarded “Best Lifetime ISA” at the Good Money Guide Awards 2023 and “Best Experience Design” at the 11:FS Awards 2023 and voted the UK’s Best Mortgage Broker by its customers at the British Bank Awards four years running (2022, 2023, 2024 and 2025).
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