{"id":2079,"date":"2017-01-10T12:00:31","date_gmt":"2017-01-10T12:00:31","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2079"},"modified":"2023-09-27T11:37:39","modified_gmt":"2023-09-27T10:37:39","slug":"generation-rent-number-homeowners-aged-25-halved","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/10\/generation-rent-number-homeowners-aged-25-halved\/","title":{"rendered":"Generation Rent: Number of homeowners aged 25 has halved"},"content":{"rendered":"<p><strong>Homeownership among 25-year-olds has fallen by more than 50% in the last 20 years, a new research has revealed.<\/strong><\/p>\n<p>The Local Government Association has stated that twenty years ago 46% of those aged 25 <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/11\/28\/drop-number-owner-occupied-homes-england\/\" target=\"\" rel=\"noopener\">owned their home<\/a>. Currently, this proportion sits at 20%.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"6s0rOIpOIa\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/06\/uk-property-market-ends-2016-positive-note\/\">UK property market ends 2016 on a positive note<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;UK property market ends 2016 on a positive note&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/06\/uk-property-market-ends-2016-positive-note\/embed\/#?secret=SxqoVSS7nP#?secret=6s0rOIpOIa\" data-secret=\"6s0rOIpOIa\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>The research by Savills found out that <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/10\/21\/3-things-renters-do-to-save\/\" target=\"\" rel=\"noopener\">private renters<\/a> pay 34% of their total household income on rent, social and affordable renters pay a total of 29%.<\/p>\n<p>To put this into context, homeowners only spend an average of 18% of their salary on their mortgage, or nothing at all if they own it outright.<\/p>\n<p>The LGA explained that <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/04\/2017-house-price-predictions\/\" target=\"\" rel=\"noopener\">average house prices<\/a> are now 7.9 times average earnings, while the average size of the kind of deposit needed to get a mortgage is 62% of the annual income (or an impressive 131% if you\u2019re trying to buy in London).<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"VTPRcbENVh\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/05\/5-things-consider-investing-rental-property\/\">5 things to consider before investing in rental property<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;5 things to consider before investing in rental property&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/05\/5-things-consider-investing-rental-property\/embed\/#?secret=eDXO2zbeUn#?secret=VTPRcbENVh\" data-secret=\"VTPRcbENVh\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>\u201cOur figures show just how wide the generational home ownership gap is in this country,\u201d said Martin Tett, a housing spokesman for the LGA, which represents 370 councils in England and Wales.<\/p>\n<blockquote><p>A shortage of houses is a top concern for people as homes are too often unavailable, unaffordable and not appropriate for the different needs in our communities.\u201d<\/p><\/blockquote>\n<p>\u201cOur figures show just how wide the generational home ownership gap is in this country. A shortage of houses is a top concern for people as homes are too often unavailable, unaffordable and not appropriate for the different needs in our communities.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Homeownership among 25-year-olds has fallen by more than 50% in the last 20 years, a new research has revealed. The Local Government Association has stated that twenty years ago 46% of those aged 25 owned their home. Currently, this proportion sits at 20%. UK property market ends 2016 on a positive note The research by<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/10\/generation-rent-number-homeowners-aged-25-halved\/\" title=\"ReadGeneration Rent: Number of homeowners aged 25 has halved\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4563,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6],"tags":[22,46,37],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2079"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2079"}],"version-history":[{"count":1,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2079\/revisions"}],"predecessor-version":[{"id":6096394,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2079\/revisions\/6096394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4563"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}