Home ownership rates stable after decade of decline

Home ownership rates are stable across England for the first time since 2003 according to the English Housing Survey for 2014/15.

According to the report there were 14 million owner-occupiers in 2014/15, with 80% of those that applied for a mortgage given one.

Statistics also say 52,500 have bought through the Right to Buy scheme since 2012 with the government crediting the scheme with the fact that more social housing tenants expecting to buy a house up from 20% in 2012 to 24% in 2015.

Housing Minister Gavin Barwell said: “We are determined to ensure that anyone who works hard and aspires to own their own home has the opportunity to do so.

“Since 2010 over 300,000 households have been helped into home ownership through government-backed schemes.

“The ground-breaking Housing and Planning Act will allow us to go even further delivering our ambition to build an additional 1 million homes.”

The report also shows increasing satisfaction with the tenure for private renters over the last 10 years, rising from 48% in 2004 to 2005 to 65% in 2014 to 2015. 82% were satisfied with their privately rented accommodation.

There has also been a large decline in the proportion of private tenants living in non-decent homes, decreasing from 47% in 2006 to 28% in 2014.

Do NOT follow this link or you will be banned from the site!
X