Home ownership at lowest level in 20 years

Published by Guardian, The Observer
on Sunday, 9 January 2011 by Graham Norwood
 
Home-ownership is down to 68% as more people turn to renting – leading to shortage of rental properties and soaring prices


Constant headlines on the ups and downs of house prices are masking two trends set to dominate 2011: a long-term fall in home ownership and a resulting boom in the private rental market.

Last year saw UK owner-occupation fall to 68%, its lowest level for two decades and well below its 2003 peak of 71%. More people are renting as a result, despite a shortage of lettings properties pushing rents up by as much as 20% in the past year.

“Many have turned to the rental …


Tags: home owners, house prices, lettings, owner-occupier, property, renals, rent

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