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UK Homeownership Below European Average

The UK’s reputation as a nation of homeowners has been challenged, with new data revealing that Britain is home to one of the smallest proportions of property owners in Europe.

The UK’s reputation as a nation of homeowners has been challenged, with new data revealing that Britain is home to one of the smallest proportions of property owners in Europe.

A study conducted by mortgage company Credit Foncier found that, of the 8 major European nations analysed and accounting for 75% of Europe’s population, the proportion of home owners in Britain amounts to just 65% of the population – surpassing only Germany, where only 54% of people own their homes.


Poland was named the European nation with the highest proportion of home owners, with 84% of the population possessing property. Spain, Italy and France followed with home ownership levels of 79%, 73% and 65% respectively.


The figures also looked at the percentage of income that each nation’s citizens spend on property, with the Dutch spending 29.4% - the highest in Europe. The British spend the second largest proportion of their income at 25.1%, with the French spending 18.2% and the Italians spending 17.1%.


However, citizens in the Netherlands also pay less for property, as values in the country fell between 2006 and 2015. Conversely, in France, property values have risen by 2% over the same period, whilst the UK and Germany have seen their market price increase by 30%.


The Netherlands is also home to the largest homes, with an average property size of 119 square metres, compared to the 76 square metre average found in the UK’s homes.


As the UK continues to analyse the impact of Brexit and its position within Europe’s property markets, official figures revealed that construction fell to a four-year low following Brexit, declining by 1.1% over the third quarter of 2016.

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