Survey shows rise in young home ownership

Jan. 24, 2020
<p><span>The proportion of young people in home ownership has risen after more than a decade of decline, according to the government’s latest English Housing Survey.</span></p> <p><span>The Ministry of Housing, Communities and Local Government’s (MHCLG) data shows that during 2018/2019, 41%</span><span> </span><span>of 25-34 year olds were owner occupiers.</span></p> <p><span>This compares to the period between 2003/2004 and 2013/2014 when home ownership for this age group dropped from 59% to 36%.</span></p> <p><span>At the same time, the same proportion of 25-34 year olds (41%) occupied the private rented sector during 2018/2019, dropping from a peak of 48% in 2013/2014.</span></p> <p><span>And levels of overall home ownership, the survey shows, have remained the same for six consecutive years, at 64% of the estimated 23.5 million households in England.</span></p> <p><span>MHCLG said that the increase in overall home ownership from 63% in 2016-17 was not “statistically significant” and that since 2003 levels of owner occupation had declined from a peak of 71% after growing steadily from the 1980s.</span></p><p></p> <p><span>The overall proportion of those in the private rented sector has also not changed for six years, accounting for 19% of households in 2018/2019. This compares to around 10% throughout the 1980s and 1990s.</span></p> <p><span>“While the [private rented] sector has …

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