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81% of population aspire to be homeowners in ten years

Some 81% of British adults hope to be homeowners in ten years’ time, and 74% aspire to it within two years, according to a new research published by the Council of Mortgage Lenders.

The CML’s findings are based on the results of a survey undertaken by YouGov.

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 – 33%, of those who hope to be homeowners in two years time actually expect it to happen.

Bob Pannell, chief economist at the CML, says: “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.

“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.” 



Just one in four households will have mortgage by 2025

Just one in four households will have a mortgage by 2025 if the economy continues to stagnate, a report commissioned by the Resolution Foundation and Shelter from Cambridge University has found.

Manic culture caused eurozone woes

Western economies displayed the same kind of manic behaviour as psychologically disturbed individuals in the run-up to the 2008 credit crisis and it could happen again, a leading professor has warned. Professor Mark Stein from the University of Leicester School of Management, says bankers, economists and politicians shared a manic culture of denial, omnipotence and […]

Caption Competition

Openwork’s Paul Shearman gets in the groove and cuddles up to an overly friendly Womble at a recent conference

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