Thursday, July 14, 2011

Interesting statistic

Survey shows desire for home-ownership

"According to the English Housing Survey, only 11 per cent of those who own a house are under the age of 35." So call it two million under-35s out of about 12 million people aged 20 to 35 (prime FTB age in days of yore). I knew things were bad but that's outrageous. Give it a few more years and NOBODY under age 35 will own their own home, they'll all be tenants, at which stage they can all vote for the Land Value Tax party and get their awesome revenge!

Posted by mark wadsworth @ 12:51 PM (1587 views)
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One thought on “Interesting statistic

  • The average age at which people set up home is about 24; so out of the 12 million in the 20-35 age range, only about 8.8 million will be living independantly of their parents.

    Most of those in that age range will probably be living as couples, and the number living on their own will probably be offset by those sharing rented digs with three or more under one roof; so say an average of two per property.

    That’s 4.4 million households, of which roughly 2 million are owner occupied.

    That is definitely a trend away from owner-occupation, down from 67% generally to about 45% – although I think that age band has always had a higher percentage of tenants than the adult population as a whole.

    The bigger market influence (I think) is the lock-down effect – a high percentage of FTBs from the last five years are well and truly stuck on the bottom rung of the mythical ladder, which should be creating a market vacuum between ‘starter’ homes and ‘family’ homes – which they can’t afford to upsize to..

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