Proportions of owner-occupiers and private tenants stay the same for fifth year

Proportions of owner-occupiers and private tenants stay the same for fifth year

The latest English Housing Survey, which was published yesterday and covers 2017 to 2018, says that of the estimated 23.2m households in England, 14.8m (64%) were owner-occupiers.

Most owner-occupiers, 34% of the total number of households, owned outright, while 30% were buying with a mortgage.

The survey also found that the proportion of 35 to 44-year-olds in owner-occupation had increased, following a long period of decline in this age group.

It says that 57% of those aged 35 to 44 were owner-occupiers, up from 52% the previous year.

Despite this, the proportion of that age group renting privately also rose, from 13% to 28%, while the proportion in the social rented sector slipped to 16%.

Overall the private rented sector accounted for 4.5m (19%) of all households in England – also unchanged for five years.

While the sector has doubled in size since 2002, the rate has hovered at around 19% to 20% since 2013-2014.

Most private tenants (58%) expect to buy their home at some point.

The social rented sector, at 4m households (17%), remained the smallest housing tenure.

The survey also found that in 2017-2018, there were 785,000 first-time buyers in England, with an average age of 33.

Those buying their home with a mortgage spent 17% of their household income on mortgage payments. Private renters spend 33% of their income on rent, and social tenants spent 28%.

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/774820/2017-18_EHS_Headline_Report.pdf

“Our model is based around flexibility and transparency”, explained James. “Our doors don’t close at 5pm like most estate agents. At James Black Homes we go further. We’re open from 8am – 8pm, 7 days a week, giving you greater flexibility.”

2019-02-04T14:01:57+00:00 Uncategorized|