Proportion of home-owning Britons falls to 30-year low
The proportion of people who own their own homes
has slumped to its lowest level since the mid-80s, with getting a foot
on the property ladder now an increasingly difficult proposition for
households across Britain. High house prices, the limited availability of mortgages and declining
wage growth have all conspired to make it tougher for first-time buyers
to own a home of their own. The ONS report said: "The rapid increase in the number of households
privately renting could be linked to the decline in the number of
households getting on the housing ladder, usually through a mortgage.
Words: 98
Personal opinion:
As I am trying to get a house of my own, I understand the frustration that all these Britons must be going through. It really isn't any easier to get a house in the Netherlands. The ridiculous prices make it almost impossible to buy a house for a first time buyer like myself, and due to those prices being so high the amount of people looking to pay rent instead rises tremendously which in turn also causes the rent prices to go up. It's a vicious cycle. This costs the taxpayer too as the housing benefit bill continues to
rise because hundreds of thousands of more working people need help
paying their rent.
Words: 113
Source: Liam O'Brien (19 April 2013). The Independent. Proportion of homeowning Britons falls to 30 year low. Retrieved from http://www.independent.co.uk/property/proportion-of-homeowning-britons-falls-to-30year-low-8580708.html