Figures released by mortgage lender Halifax show that the number of people owning their own homes, dropped by 83,000 to 14,538 million last year, recording the largest fall on record going back to 1966. It is the second year to show a fall in home ownership.
Chief Economist at Halifax, Martin Ellis said:
“The fall in the total number of owner-occupied households in England in 2007 largely reflects the increasing affordability difficulties faced by many potential purchasers as a result of the rapid rise in house prices in recent years.”
The 25-34 age group are affected most and particularly in southern parts of England, says the report, with ownership falling by 322,000 over the last five years, within this age group.
The Halifax concludes that buy-to-let landlords are the big winners in this sector, with the largest ever rise in the number of people renting property in England last year.
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