Property News · August 2, 2016

'Home ownership is unrealistic': five readers on England's housing crisis


England is in the middle of a housing crisis. We asked people to share where, and how, they live and what their hopes are for the futureHome ownership in England has fallen to the lowest levels in 30 years, highlighting the vast gap between earnings and property prices. Once most acutely felt in the capital, the problem has now spread across the country, according to a new report by the Resolution Foundation thinktank.The report, based on analysis of the latest Labour Force Survey, showed that in early 2016 only 58% of households in Greater Manchester were homeowners, compared with a peak of 72% in 2003. In outer London, the peak in ownership came earlier, in 2000, but the fall was also from 72% then to 58% in February. The West Midlands and Yorkshire have also seen double-digit drops, driven by declines in Sheffield and Leeds. Continue reading…

Source : theguardian.com
Read more…‘Home ownership is unrealistic’: five readers on England’s housing crisis

You may also like...