Turn round in Home Ownership

February 19, 2016

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

Estate Agent Talk

Four to five houses is the sweet spot for first-time buyers

House hunting before the stress kicks in Just 20% of us feel excited on a first property viewing, rising to 47% by viewings 4 to 5 There’s a U shape trajectory of excitement when it comes to the viewing process However, there is a gradual rise in stress levels the more properties viewed Overall just…
Read More →
Estate Agents should not all look the same
Letting Agent Talk

Opinion: Why Letting Agents Are The Cape-Wearing Heroes Landlords Need 

By Sally Lawson | Agent Rainmaker Let’s be honest – no landlords signed up to become compliance officers, legal experts, or legislative gurus. They signed up to invest in property. And yet, the weight of the regulatory obligation that’s landed on their shoulders has never been heavier.  And that’s even before the Renters’ Rights Act…
Read More →
Letting Agent Talk

Void periods ease following RRA implementation, but remain higher than a year ago

The latest analysis by property management specialist, Rushbrook & Rathbone, has found that average rental void periods across England have eased since the implementation of the Renters’ Rights Act (RRA) in May, suggesting that landlords are beginning to adapt to the new legislative landscape. The firm believes many are using this period of change as…
Read More →
Estate Agent Talk

76% of Poor Conveyancing Experiences Feature Communication Issues

Konnect You analysis finds that communication issues feature in more than three in four poor conveyancing experiences, with missing updates, slow responses and repeated chasing emerging as common frustrations. Communication problems, including limited updates, delayed responses and repeated chasing, featured in 76% of poor home-mover conveyancing experiences analysed by Konnect You. The findings suggest communication is a major factor in how home movers experience delays.…
Read More →
Breaking News

1 in 8 new-build homes unsold after six months

Developers hold their nerve as one in eight new-build homes remain unsold after six months   Jonathan Samuels, CEO of specialist lender, Octane Capital, believes that developers are increasingly prioritising profitability over speed of sale, with new-build homes spending longer on the market as developers resist unnecessary price reductions and instead look to protect scheme…
Read More →
Breaking News

Rental price and average salary tracker – July 2026

Year-on-year Rental Price Growth Moderates, Yet High Demand and Limited Supply Continue to Push Rents Higher London recorded the strongest monthly rental growth, with average rents rising from £2,385 to £2,484 (+4.2% month-on-month). As a result, the representative annual salary needed to secure the average-priced rental home increased from £70,050 to £74,520 (+6.4% year-on-year). The…
Read More →