{"id":4022812,"date":"2019-02-01T16:06:22","date_gmt":"2019-02-01T16:06:22","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=4022812"},"modified":"2019-02-01T16:06:22","modified_gmt":"2019-02-01T16:06:22","slug":"more-new-homes-needed-to-help-with-young-home-owner-numbers","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2019\/02\/01\/more-new-homes-needed-to-help-with-young-home-owner-numbers\/","title":{"rendered":"More new homes needed to help with millennial home owner numbers"},"content":{"rendered":"
A new report on the state of the housing market has prompted a call for greater efforts in building new homes to help young people get onto the property ladder.<\/strong><\/p>\n The new English Housing Survey reveals that there are substantially fewer young people owning a home than before the start of the global downturn 10 years ago. It shows that 38%<\/strong> of 25 to 34-year-olds have their own property, down from the heights of 55%<\/strong> in 2007\/08.<\/p>\n At the same time, the number of private renters in the same age bracket has risen from 28%<\/strong> to 44%<\/strong>. Overall, 64%<\/strong> of the population own a home, up by just a percentage point since last year\u2019s survey and down from the peak of 71%<\/strong> in 2003.<\/p>\n It points to a dire need for more housing stock, and has prompted Robert Colvile, of the Centre for Policy Studies, to tell This Is Money: \u201cOur failure to build enough houses \u2013 which stretches back decades \u2013 means that house prices have grown and grown.<\/p>\n \u201cIn the process, home ownership has become an increasingly distant prospect for an entire generation. \u00a0People want, need and deserve homes of their own. The Government needs to strain every sinew to fix the housing market and revive home ownership.\u201d<\/p>\n‘People want, need and deserve their own homes’<\/h4>\n