Turn round in Home Ownership

According to a press release yesterday from the Department for Communities and Local Government and Brandon Lewis.

Figures have shown the success of government initiatives to give hard-working families across the country the chance to realise their ambition of home ownership.

New figures show that more than a decade-long decline, starting in 2003, in the number of people owning their home has been turned around with more than 14 million owner occupiers in the country last year.

Among social housing tenants who want to achieve their dream of home ownership, more than half of local authority tenants and a third of housing association tenants expect to buy their current home

Aan increase in better homes with the number of properties failing to meet the government’s Decent Homes Standard continuing to fall and down by 3.1 million on 2006

Figures released earlier this week show that lending for first-time buyers is at its highest since 2007, while first-time buyers mortgages are up 11% year-on-year.

Housing Minister Brandon Lewis said: “In 2010 there was a housing market where buyer’s couldn’t buy, builders couldn’t build and lenders couldn’t lend.

“Our efforts are turning that around with more than 270,000 families helped into homeownership through government-backed schemes since 2010, while the number of new homes is up 25% over the last year.

“And we’ve set out the boldest ambition for housing in a generation,doubling the budget so we can help a million more people into homeownership, while delivering a bigger, and better private rental sector”.

To read the full press release go to the Gov.UK 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

Breaking News

First-Time Buyers Prioritising ‘Forever Homes’

A third of first-time buyer purchases are semi-detached properties, as young people turn to ‘forever homes’   Barclays mortgage data shows semi-detached properties rose in popularity in August, accounting for 33.5 per cent of first-time buyer purchases Four in 10 Barclays first-time buyer customers chose mortgages allowing them to complete their repayments over a 30+…
Read More
Estate Agent Talk

Closing the gap on client relationships and recommendations

New research from iamproperty has highlighted the growing disconnect between what buyers and sellers want from their agent and what they experience, which could be killing recommendations from happy clients. iamproperty’s quarterly consumer survey revealed that only a third of respondents (32%)¹ would recommend their agent following their experience. With many agents relying on recommendations…
Read More
Estate Agent Talk

Northern Ireland to expect over 25,000 new home movers

Belfast-based estate agency John Minnis has revealed that Northern Ireland is to welcome an estimated 25,000- 30,000 new arrivals from the UK and Europe over the next five years, as migration to the region reaches its highest levels in more than a decade. Recent figures show that 11,700 people relocated from other parts of the…
Read More
Breaking News

Red tape and rising costs stifling new-build availability across the capital

The latest analysis from London estate agent, Benham and Reeves, has revealed how protracted building timelines are preventing the capital’s housebuilders from delivering the level of new-build housing stock required to meet demand, with new homes currently accounting for just 7.5% of all properties listed for sale across London. Benham and Reeves analysed the latest…
Read More
Estate Agent Talk

UK’s new wave of ‘second cities’ offers strongest yield growth for property investors

The latest research from West One Loans has found that whilst investors may continue to favour the nation’s key cities such as London, Birmingham, and Manchester, a new wave of ‘second cities’ is delivering the strongest growth in rental yields. These emerging markets are offering investors the chance to achieve attractive returns, driven by rising…
Read More
Estate Agent Talk

Decline in change of use further constricting housing supply

Jonathan Samuels, CEO of Octane Capital, believes that a decline in conversion projects could ultimately prevent the Government from hitting its ambitious housing delivery targets, as the firm’s latest analysis has revealed that the number of homes created through change of use has fallen sharply in the last five years. Octane Capital analysed official Government…
Read More