Majority of adults in the UK want to own their home, research shows
15-06-2012
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The analysis is based on the results of a survey undertaken by YouGov and includes questions that have been repeated consistently since the middle of the 1970s, enabling comparisons with earlier periods to be drawn.
It shows that the desire for home ownership has fallen back a little in recent years, but still remains strongly entrenched across all age groups.
Aspirations are much higher than current home ownership levels among those aged under 35, but it is far from clear whether and how people will achieve their home ownership goal. Notably, most of those who are renting privately or sharing with family or friends are under 35, and more than half of these, 54%, would like to become home owners over the short term.
However, only a third of those who hope to be home owners in two years time actually expect it to happen.
‘The results clearly show that the British love affair with home ownership is far from over. But achieving the home ownership dream has become more difficult for people, and is likely to remain so, especially for the young,’ said Bob Pannell, CML chief economist.
‘We need to ensure that good quality housing is available in a variety of different tenures, and that the growing private rented sector represents an attractive choice for those who do not want, or cannot attain, home ownership. However, we also need to recognise that for the overwhelming majority of people, home ownership is still the ultimate goal,’ he added.
