Levels of home ownership are now similar to those seen in the 1980s
One of the defining features of Britain’s property market over recent years has been a fall in homeownership, credited to many hopeful buyers being priced out of the market.
However, Nationwide, which is Britain’s biggest building society, raised the prospect that this decline may now have halted.
Latest figures from the English Housing Survey showed that home ownership levels remained ‘broadly stable’ at 62.6 per cent last year, compared to 62.9 per cent in 2016, Nationwide said.
Levels of home ownership are now back down to those seen in the 1980s and a considerable way below the peak of 70.3 per cent in 2003.
Between those aged between 25 to 34, 37 per cent own their own home. ‘Growing affordability pressures’ are taking their toll on first-time buyers, Nationwide said.