The effect of rising house prices on first time buyers' ability to get onto the property ladder has been revealed by the preliminary findings of a new report from the Department for Communities and Local Government (DCLG) today.
The DCLG says in 2001, 40% of households with an average age below 30 years old were buying with a mortgage and 33% were renting privately. This has now switched with the proportion of households with an average age below 30 years of age buying with a mortgage declining to 34% and the proportion opting to rent rising to 41%. While the figures are only the preliminary findings of the DCLG’s annual Survey of English Housing it says most of the information released today can be expected to be very similar to the final results of the survey. The survey also reveals the number of second home...
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