Menu
11/10/2005
Thirty-somethings face home-buying problems
Increasing house prices could leave one in three thirty-somethings unable to afford to buy their own homes, unless house-building increases, the Office of the Deputy Prime Minister has warned.
According to figures released by the ODPM, if current building rates continue, the proportion of thirty-something couples able to afford their own home by 2026 would fall to a third, compared to half the couples today and two thirds in the late Eighties.
Currently, 71% of households in the UK are homeowners, but 90% say they would like to own their own home at some point.
However, according to the Survey of English Housing 2004/05, the number of households belonging to those under 30 years of age with a mortgage fell from 40% to 36% between 2000 and 2004.
The ODPM also found that 23% of first-time buyers are relying on gifts and family loans in order to afford a deposit, compared to just 4% twenty-five years ago.
The ODPM figures have been published in response to the Barker Review on housing supply. The review showed that Britain had not been building enough housing to meet rising demand for several decades. Over the last 30 years, the number of households has increased by over 30%, but the level of building of new homes has dropped by over 50%.
The government has already developed proposals to increase house building over the next ten years as part of the Sustainable Communities Plan, as well as shared equity schemes to help first-time buyers get onto the property ladder.
Housing and Planning Minister Yvette Cooper said: “For the sake of today’s ten-year-olds we need to start planning new homes for the future right now. It isn’t fair if people’s chances of owning their own home in the future depends on whether their parents or grandparents were homeowners before them.”
(KMcA/SP)
According to figures released by the ODPM, if current building rates continue, the proportion of thirty-something couples able to afford their own home by 2026 would fall to a third, compared to half the couples today and two thirds in the late Eighties.
Currently, 71% of households in the UK are homeowners, but 90% say they would like to own their own home at some point.
However, according to the Survey of English Housing 2004/05, the number of households belonging to those under 30 years of age with a mortgage fell from 40% to 36% between 2000 and 2004.
The ODPM also found that 23% of first-time buyers are relying on gifts and family loans in order to afford a deposit, compared to just 4% twenty-five years ago.
The ODPM figures have been published in response to the Barker Review on housing supply. The review showed that Britain had not been building enough housing to meet rising demand for several decades. Over the last 30 years, the number of households has increased by over 30%, but the level of building of new homes has dropped by over 50%.
The government has already developed proposals to increase house building over the next ten years as part of the Sustainable Communities Plan, as well as shared equity schemes to help first-time buyers get onto the property ladder.
Housing and Planning Minister Yvette Cooper said: “For the sake of today’s ten-year-olds we need to start planning new homes for the future right now. It isn’t fair if people’s chances of owning their own home in the future depends on whether their parents or grandparents were homeowners before them.”
(KMcA/SP)
Related UK National News Stories
Click here for the latest headlines.
15 August 2013
Housebuilding Market On The Rise
New figures released by the government show the housebuilding market has begun to show signs of recovery. The latest housebuilding start figures show there were 29,510 new homes started between April and June this year. This was 6% higher than the previous quarter and a third higher than the same time last year.
Housebuilding Market On The Rise
New figures released by the government show the housebuilding market has begun to show signs of recovery. The latest housebuilding start figures show there were 29,510 new homes started between April and June this year. This was 6% higher than the previous quarter and a third higher than the same time last year.
30 January 2015
More Than 350 Councils To Receive New Homes Bonus Payments
Housing Minister, Brandon Lewis, has published the final allocations of New Homes Bonus Payments to over 350 councils in England. The total awarded to councils since the scheme's introduction is£3.4 billion, for delivering more than 700,000 new homes and conversions, and bringing over 100,000 empty homes back into use.
More Than 350 Councils To Receive New Homes Bonus Payments
Housing Minister, Brandon Lewis, has published the final allocations of New Homes Bonus Payments to over 350 councils in England. The total awarded to councils since the scheme's introduction is£3.4 billion, for delivering more than 700,000 new homes and conversions, and bringing over 100,000 empty homes back into use.
30 May 2014
Housing Associations To Receive Share Of £208m In Loans
Thirteen housing associations will receive a share of £208 million in loans to deliver 4,800 new affordable homes. Communities across the country are set to benefit from thousands of new affordable homes under a multi-million pound deal announced by Housing Minister Kris Hopkins.
Housing Associations To Receive Share Of £208m In Loans
Thirteen housing associations will receive a share of £208 million in loans to deliver 4,800 new affordable homes. Communities across the country are set to benefit from thousands of new affordable homes under a multi-million pound deal announced by Housing Minister Kris Hopkins.
22 August 2013
400,000 Homes With Planning Permission Still Waiting To Be Built
New research published today reveals there are still nearly 400,000 homes in England which have been given planning permission but haven't yet been built. The study, commissioned by the Local Government Association (LGA) and carried out by Glenigan, shows that there has been little progress made in reducing the bumper backlog over the past year.
400,000 Homes With Planning Permission Still Waiting To Be Built
New research published today reveals there are still nearly 400,000 homes in England which have been given planning permission but haven't yet been built. The study, commissioned by the Local Government Association (LGA) and carried out by Glenigan, shows that there has been little progress made in reducing the bumper backlog over the past year.
10 July 2009
Scotland's Affordable Homes Hit 50 Year Low
Scotland has fewer social rented homes than it had 50 years ago, according to a report published today by housing and homelessness charity, Shelter Scotland.
Scotland's Affordable Homes Hit 50 Year Low
Scotland has fewer social rented homes than it had 50 years ago, according to a report published today by housing and homelessness charity, Shelter Scotland.
-
Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
