Homeownership among young people collapsing

EasternNewHomeBuyer

Second-time buyersYoung people and people on lower incomes are paying the price for the UK’s broken housing market according to a new report.

The UK Housing Review 2015, published today by the Chartered Institute of Housing (CIH), highlights how housing is driving inequality and disadvantage across the UK.

Levels of homeownership are collapsing among young people but increasing among older people. In England, 66.5 per cent of 25-34 year olds were homeowners in 1991 – a figure that dropped to 36 per cent in 2013-14. Over the same period the percentage of 65-74 year olds that own their own home has risen from 62.3 per cent to 77.1 per cent.

There is also a widening gap between homeownership rates for different groups of people. Across Great Britain, lone parents or single people under pension age are least likely to own a home, while more than 80 per cent of couples with…

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