Home ownership in England has fallen to its lowest level
in 30 years as the growing gap between earnings and property prices has created
a housing crisis that extends beyond London to cities including Manchester. The
struggle to get on the housing ladder is not just a feature of the London
property market, according to a new report by the Resolution Foundation
thinktank, with Greater Manchester seeing as big a slump in ownership since its
peak in the early 2000s as parts of the capital, and cities in Yorkshire and
the West Midlands also seeing sharp drops. Home ownership across England
reached a peak in April 2003, when 71% of households owned their home, either
outright or with a mortgage, but by February this year the figure had fallen to
64%. Read more on the Resolution Foundation website.
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