Home ownership amongst under-45s collapses

The proportion of under-45s who own their own home has suffered a sharp downfall in the wake of the global financial crisis in 2008, whilst ownership rates amongst older people have remained the same or increased.

The rate of home ownership amongst under-45s was 64 per cent in 2003-4, whilst the overall rate of home ownership was 72 per cent.

Now, the rate of home ownership amongst under-45s has fallen to just 45 per cent while 77 per cent of over 65s own their own home – up from 71 per cent in 2003-4, according to figures published by the English Housing Survey.

The reasons for the decline have been attributed to a variety of factors including wage stagnation, rent inflation and increasing house prices.

Link: Under 45? Chances are you won’t own a home