Barely half of all families in Britain own their own
home, research highlighting the extent of the rise of generation rent shows. A
study by the Resolution Foundation thinktank has shown that official figures
have exaggerated home ownership, which has been in steady decline since 2002.
The ONS said the UK owner occupation rate rose sharply in the two decades after
Margaret Thatcher’s government allowed council tenants the right to buy their
homes at a discounted price. But since the early 2000s, high house prices, weak
growth in real incomes and tighter lending policies have combined to make home
ownership harder despite a prolonged period of ultra-low interest rates and
government subsidies for first-time buyers. Read more on the Resolution
Foundation website.
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