Since 2010 the level of home ownership has fallen from
67.4 per cent to 63.3 per cent. The drop in home ownership comes despite a
series of Government initiatives to help young people get on the housing
ladder. Under the latest scheme, under-35s can buy a new home with just a five
per cent deposit. But research compiled by the Labour Party ahead of their
annual conference in Brighton suggests that under the Coalition Government
there was 50 per cent drop in the number of young people owning their home. Labour’s
figures, based on official Government statistics, show that just 800,000 people
under the age of 34 now own their home – a drop of 50 per cent since 2010. The
average deposit needed to buy a house is now £57,000 compared with £43,000 in
2010. Read more on the Independent website.
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