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Demand for Home Ownership Falling in the UK

The number of people looking to own their own home has fallen, according to a new survey.

Demand for Home Ownership Falling

The number of people looking to own their own home has fallen, according to a new survey.

Research from the Council of Mortgage Lenders (CML) has found that whilst aspirations towards home ownership remain relatively high in the UK, the proportion of adults looking to own properties in the short and long-term has declined over the last decade.


Official figures from YouGov, used by CML in their report, have revealed that 72% of adults surveyed indicated that they are looking to become homeowners in the next two years, whilst 80% hope to own a property in the next decade.


Whilst remaining high, demand stands at its lowest level since 2004 – as well as being the third lowest level since the survey’s inception in 1975.


Commenting on the trend amongst those aspiring to homeownership, the CML said:


‘Private renters represent the primary source of those hoping to get onto the housing ladder by switching tenure [to become owner occupiers] within the next two years … The majority of people renting privately or living with family or friends appear to view their position as a temporary state … More than half of private renters (56%) would like to become home-owners within the next 2 years.’


The continued demand for new homes in the housing market comes on the morning of Chancellor Philip Hammond’s first Autumn Statement, where he is expected to confirm his party conference pledge of spending £5bn on improving and expanding house construction.

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