Home ownership rates for families aged 25-34 are rising for the first time in 30 years according to Resolution Foundation

December 24, 2018

Home ownership rates for families aged 25-34 are rising for the first time in 30 years, but high barriers to entry facing first-time buyers remain acute, according to new analysis recently published by the Resolution Foundation.

Home ownership rates among 25-34 year olds have risen by 3 per cent since they hit the rock bottom level of 25 per cent in 2016.

The analysis shows that falling home ownership rates, and reduced access to social housing, have driven rapid growth in the number of young families who rent privately.

Daniel Tomlinson, Research and Policy Analyst at the Resolution Foundation, said:

“After decades of falling home ownership, recent conditions in the housing market as we move away from the immediate aftermath of the financial crisis are finally helping more young families to buy a home of their own.

“But the long term drivers of lower ownership rates, including low interest rates, and high house prices and deposit requirements, are here to stay. Home ownership rates for young families are barely half as high as they were back in the late 1980s, while fewer than one in five own in many of Britain’s major cities.

“So as well as welcoming the tick up in youth home ownership politicians should act to increase the number of homes available to buy, use the tax system to favour first time buyers over second home owners, and ensure that the private rental sector is fit for purpose – providing the security that many young families need.”

Read the press release from Resolution Foundation published 22nd December 2018 in full click here.

 

 

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

Letting Agent Talk

7 Ways Self Storage Supports Business Growth in 2025

As businesses face increasing challenges in managing costs, scaling operations, and adapting to changing markets, self storage has emerged as an indispensable tool for success. Whether you’re a small startup or an established multinational company, self storage offers a practical, affordable, and secure way to handle the demands of modern business. As businesses grow, they…
Read More →
Estate Agent Talk

How much would Bridget Jones’ iconic London apartment cost today?

How much would Bridget Jones’ iconic London apartment cost today? A new study has revealed that the average price to purchaseBridget Jones’ iconic London apartment in the Borough Market area is now £415,090. The study calculated that this is a price increase of 182% since the first film premiered in 2001. The research obtained data…
Read More →
Love or Hate Rightmove
Breaking News

Rightmove House Price Index: Record number of sellers in promising start to 2025, but uncertainties ahead

The average price of property coming to market rises by 1.7% (+£5,992) this month to £366,189, the largest jump in prices at the start of the year since 2020: New seller asking prices are still nearly £9,000 below May 2024’s record, reflecting buyer affordability constraints A record number of early-bird new sellers have come to…
Read More →
Breaking News

Zoopla identifies housing markets with best prospects for house price growth in 2025

New analysis from Zoopla, one of the UK’s leading property websites, reveals that housing markets in Scotland and Northern England have the best prospects for house price growth in 2025, as Southern England continues to adjust to the impact of higher mortgage rates. Housing markets in Scotland and Northern England have the best prospects for…
Read More →
Estate Agent Talk

Shared Ownership vs. Traditional Mortgages: What’s the Difference?

Buying a property in Guildford is a significant decision, and choosing the right method of ownership is crucial. Two popular options available to buyers are shared ownership and traditional mortgages. Understanding their differences can help you decide which suits your financial situation and property aspirations. What Is Shared Ownership? Shared ownership is a government-backed scheme…
Read More →
Rightmove logo
Breaking News

Rightmove’s weekly mortgage tracker – 16/01/25

Average mortgage rates drop despite mixed economic news   Commenting on the drop in average rates this week, Rightmove’s mortgage expert Matt Smith says: “Despite all of the economic news we’ve had this week, average rates have fallen. It shows that despite the challenges affecting the mortgage market at the moment, lenders are keen to…
Read More →