Is home ownership increasing?

6/07/2018
By: LSL Land & New Homes

Is home ownership increasing?

Following a period of steady growth since the sixties the proportion of owner occupiers compared with renters had been steadily reducing since around 2003. (Ministry for Communities and Local Government, 2017). However, more recent based on updated data suggests that the proportion of owner occupiers is now increasing again.

Dwelling stock in England since 1969

Between 2016 and 2017 there was an increase in the proportion of owner occupiers of 0.5%. Over the same period the proportion of Privately Rented households reduced by 0.4% and the proportion of Rented from Local Authority households reduced by 0.1%.

Ministry for Communities and Local Government dataThe Ministry for Communities and Local Government data covers England and Wales and details the number of households that are owned by the occupier. An increase in the number of second homes would therefore increase the number of homes that are owned by the occupier. Shared ownership housing schemes are included in the figures for owner-occupied households

Other data sources such as the Labour Force Survey (LFS) also suggest increases in home ownership between 2016 and 2017. Their survey for the final quarter of 2017 suggested an increase of 1% compared with 2016.

Dwelling stock in England by tenure as a proportion of all dwellings since 2008It should be noted that the levels of change reported are small and observers should perhaps question the statistical relevance of such small changes over short periods of time.

The overall trend since the sixties is that owner occupier households are increasing, privately rented households are decreasing and households that rent from local authorities are decreasing.

See also post "How housing in England has changed since the 1960s" which also takes a look at tenure trends since the sixties.


New build homesLSL Land & New Homes are specialists in the New Home field. As the UK’s leading new homes experts, and with the benefit of our award winning multi brand estate agency network, we have many thousands of buyers registered with us. In fact, according to a recent *survey conducted by Halifax 82% of new buyers in the UK registered with our network when looking for a new home.

*A report published by Halifax bank of 335,750 new buyers who entered the UK property market in 2017.

Sources

Department (Now Ministry) for Communities and Local Government, 2017. English Housing Survey (EHS), [Online]. Available at: gov.uk/government/collections/english-housing-survey

Labour Force Survey (LFS). [Online] Available at: discover.ukdataservice.ac.uk/series/?sn=2000026

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