Fewer young people own their own home.

December 29, 2015

According to data obtained by Labour it reports that the percentage of young people in the UK who own their own home is at its joint lowest level since 1996, suggesting that only  44.9% of 20 to 30-year-olds are homeowners

Predictions for next year expect property price growth to continue and to outpace wages in most areas, an average figure of around 6% increase in house prices and 3% increase in rents annually expected.

The reason for such strong house price growth remains the same as has been almost all this year and that is demand for homes outstripping supply.

Home ownership including shared ownership among the under 30’s reached a peak at 62.7% in 1999, it has been in steady decline since then according to analysis based on Labour Force survey figures.

There is a concern that construction will lag behind the strong demand which will then put further pressure on house prices which in turn will reduce affortdability.

 

 

 

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Surge in country and seaside property values
Estate Agent Talk

5 Tips for Increasing the Value of Your Home

Owning your own home is one of the best financial investments that you can make in your life. Whether you’re planning to sell in the near future, or keeping an open mind about moving later down the line, making alterations to your property can significantly increase its value. So, whenever it is you’re looking to…
Read More →
Breaking News

Housing Insight Report – Covering January 2025

As widely expected, January 2025 saw an uplift in activity in the sales market due mainly to the Stamp Duty thresholds changing, requiring many homeowners completing from April onwards to pay more tax in England and Northern Ireland. Residential sales UK average house price dipped The average UK house price stood at £268,000 in December…
Read More →
Breaking News

Mortgage Expert predicts interest rates will still remain higher than pre-pandemic levels

Hodge Bank’s 2025 Predictions: Interest Rates and House Prices Outlook James Enos, Hodge Bank, suggests consumers remain mindful that interest rates will likely still remain higher than pre-pandemic levels. The fate of house prices for 2025 are in the hands of consumer confidence and appetite to purchase. Hodge Bank anticipates that the year will see…
Read More →
Breaking News

Breaking Property News 13/03/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Fintech mortgage broker Habito launches its own accelerator program Accelerator opportunity for three founders in Habito’s first cohort Digital mortgage broker Habito is excited to announce the launch of the Habito Accelerator, an industry first initiative designed specifically for ambitious entrepreneurial mortgage broker firms that are…
Read More →
Breaking News

Landlords optimistic about 2025, but concerns over regulation and economy remain

UK landlords remain confident in the buy-to-let (BTL) market, with many planning to expand their portfolios in 2025, but economic and regulatory uncertainties continue to dampen their outlook, new research from Market Financial Solutions has found. The London-based lender commissioned an independent survey of 300 UK landlords to gauge their sentiment towards the BTL market…
Read More →
Property for sale
Estate Agent Talk

3 Real Estate Tips for Beginners to Use

Real estate can always be a great way to set yourself up for retirement. As long as you go about it the right way, you could make quite a bit of money through it. The trick to this is to actually know what you’re doing. This can be a little overwhelming for beginners. Don’t think…
Read More →