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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.” 

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

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