Home ownership at ten-year low
2nd August 2016

Home ownership in England is at its lowest for a decade, with other parts of the UK all declining, according to figures released by the think tank Resolution Foundation.

Major English cities are the worst hit, led by Greater Manchester where the proportion fell from a 72% peak in 2003 to 58% this year, while the figure for all England fell from 71% to 64% in the same period.

The organisation says incomes have not kept up with house prices during that time and aspiring homebuyers no longer have benefits such as 100% mortgages.

Elsewhere around the UK, ownership in Northern Ireland fell from 73% to 63% since 2006, in Wales from 75% to 70% in the same time and in Scotland from 69% in 2004 to 63%.