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Home ownership a pipedream?

Posted by: andrewlund

A couple of weeks ago the media were leading with a report by the National Housing Federation (a lobby group for Housing Associations) that within a decade home ownership in England would decline to 63.8%. On the other hand Government statistics show 80% of people aspire to buying their own home. Cue much wringing of hands and property experts referring to “pent up demand”. However, CML statistics show that UK home-ownership has never exceeded 71% so it seems there has always been a mismatch between aspirations and reality. It’s true that affordability for first time buyers remains stretched but as lending criteria relax over time they will be in a better position to compete with the investment buyers who are currently hoovering up most of the property in what, traditionally, has been their segment of the market.
Andrew Lund
Andrew Lund

Compliance Officer for Legal Practice

Andrew oversees the Firm’s Quality Systems and is committed to making sure that our client’s receive the very best customer care and attention along with the best marketing and legal advice in the area.

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