Tuesday, 15 August 2017

'Home-Owning Hopelessness'

The Local Government Association said councils need powers and funding to create a mix of affordable housing options, both for renters hoping to save up for a deposit and those looking to buy. The latest English Housing Survey figures show there has been a noticeable increase in the amount of renters that say that affordability will stop them from owning their own home. In 2008/9, the proportion of this group was 56 per cent, compared to 70 per cent in 2015/6. The LGAis also concerned that:
·         One in five (21 per cent) private renters are dissatisfied with their tenure
·         With the average homebuyer expected to pay 7.6 times their annual wages for a home, many renters are locked out of the housing market.

Read more on the LGA website.

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