Only one in three people will be able to afford to buy their own homes in 15 years time unless house building increases, suggest figures released by the ODPM.
According to preliminary projections of the ODPM’s Survey of English Housing 2004/05, by 2026 the number of ‘thirty something couples’ who are able to afford to buy their own property will by a third, compared to half of couples today and two thirds of couples in the late 80s, unless more new homes are built. Statistics suggest 71% of households are homeowners, yet the number of households under the age of 30 with mortgages has fallen from 40% to 36% between 2000 and 2004 whereas that figure was 46% 10 years ago. Similarly, ODPM figures indicate 23% of first-time buyers now rely on gi...
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