Report finds at least 630,000 will be unable to afford private rents on their pension income
The number of British people who own a second home, buy-to-let or overseas property has doubled since 2001, says think tank the Resolution Foundation.
If people renting a home continue to do so and not move onto the housing ladder at present rates then the UK will see more renting than owning a home by 2039, according to new research.
The dynamics of the UK’s housing crisis are well-documented: millions prevented from getting on the housing ladder, sky-high rents for often woefully inadequate accommodation and, underpinning it all, a planning system seemingly designed to stop development rather than encourage it (most recently detailed on CapX by Sam Watling today).
Higher rents are reducing the financial gains from moving to better paying parts of the country, and mean that young people are less mobile than they were 20 years ago, according to new research.
Young people are being forced into smaller rented homes because of the cost and again if they buy due to the high price of property in the UK, new research shows.
Increased housing costs, both renting and buying a property, are one of the major pressures that the younger generation in Britain is facing, according to a new report which calls on the Government to act to improve housing opportunities.
Number has risen from 2.4 million to 3.4 million in 20 years, report says
The number of people living in rented accommodation in London has been growing for years. Private renters now outnumber mortgaged home owners in the capital.
Thinktank draws up plan at time when 40% of young adults are unable to buy a home
Average rents in London are £1,615, up 3.3 per cent on last year, according to HomeLet’s latest index.
Young people in Britain are spending three times more on housing than their grandparents did, according to the Resolution Foundation think tank.
They also have to cope with less space and longer commutes to get to work.
While their parents typically bought their own home in their 30s, young people will soon have to wait until their 40s.
Younger people have been priced out of home ownership as baby boomers have benefited, says Resolution Foundation
Institutional investment into the build-to-rent sector will balloon by 180pc in the next six years, according to new research by Knight Frank.
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