HomeOwners Alliance’s analysis shows that in most areas where homeownership level are higher… life expectancy is also greater.
Homeownership within the UK reached its highest level in 2002: 69.7%. Renting is becoming more popular in Britain, however, due to availability and affordability of housing. The latest figures show that homeownership current accounts for 63.8%, (June 2016 – Labour Force).
CEO of HomeOwners Alliance, Paula Higgens, told Property Reporter: “Reversing the decline in homeownership should be one of the government’s highest priorities. We know that homeownership in this country has tangible benefits – including longer and happier lives. But the high costs mean it is out of reach for more and more people – widening the gap between the rich and the poor and fuelling social inequality. The UK urgently needs a functioning and stable housing market as the current housing situation is deeply unfair.”
“The rising demand for rental properties is promising for landlords, despite the changes in legislation which have affected the rental yields that investors can achieve. However greater longevity may be more appealing!” says Jason Dyer of JTM Homes.
He adds: “Many buyers are taking advantage of the great mortgage deals that are available thanks to current low interest rates.”
If you are interested in buying a property in north London talk to the area’s property experts at JTM Homes. With offices in Highgate and Archway, we’ll find the perfect property for you.