‘Dys­func­tional’ hous­ing mar­ket

Yorkshire Post - Property - - PROPERTY -

HOME own­er­ship in the UK will fall back to 1980s lev­els, forc­ing both rents and house prices to rise by about 20 per cent in the next five years, ac­cord­ing to the Na­tional Hous­ing Fed­er­a­tion.

The NHF fore­casts that only 63.8 per cent of adults will be home own­ers by 2021, com­pared with 67.3 per cent at the mo­ment, and 72.5 per cent in 2001. In Lon­don, the ma­jor­ity of peo­ple will rent by 2021, with the num­ber of owner-oc­cu­piers fall­ing from 51.6 per cent in 2010 to 44 per cent by 2021.

Chief ex­ec­u­tive David Orr says: “With home own­er­ship in de­cline, rents ris­ing rapidly and so­cial hous­ing wait­ing lists at a record high, it’s time to face up to the fact that we have a totally dys­func­tional hous­ing mar­ket.”

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