UK homeownership falls to lowest level since 1988 | Money | The Guardian

UK homeownership falls to lowest level since 1988 | Money | The Guardian

Homeownership is "in crisis" in the UK, with owner-occupation falling to its lowest level since 1988, according to a report published by lobby group the HomeOwners Alliance.
The HOA says the owner-occupation rate peaked at 69.7% in the UK in 2002, falling to a current 64.7%. That rate is the 17th highest among the 27 EU countries, and lower than that of Bulgaria, Ireland, Italy and Romania.
There are now about 5 million households locked out of the property market as a result of housing shortages and high house prices. Having been forced into the rental market, sky-high rents mean they are unable to save the funds needed to get a foothold on the property ladder.
The HOA's report – which uses data from the Department for Communities and Local Government and its counterparts in Wales, Scotland and Northern Ireland – shows that London is the greatest affected, with less than half of properties in the city now owner-occupied, the lowest level since figures for the capital began in 1991.