Radical policy reboot required to deliver PM’s promise to “turn generation rent into generation buy”

Four-in-five (80 per cent) non-home owning 25-34-years-olds completely lack the required savings and earnings levels to be able to buy a typical first-time buyer home in their region, although windfalls, major lifestyle compromises or pooling resources with a partner does bring them closer to owning, according to new Resolution Foundation research published today (Thursday). The … Continued

Home ownership struggle hits Coronation Street

  Plummeting home ownership across Manchester and other major northern cities shows housing no longer just a London problem English home ownership has fallen to levels last seen in 1986, with Greater Manchester, South and West Yorkshire and the West Midlands Metropolitan area experiencing double digit falls since their early 2000s peak, according to new … Continued

Millennials have paid £44,000 more rent than the baby boomers by the time they hit 30

Delivering the Prime Minister’s pledge to deal with ‘housing deficit’ is central to boosting younger generations’ living standards The combination of falling home ownership and rising costs in the private rented sector mean that today’s millennial generation will have spent £44,000 more on rent by the time they reach 30 compared to the baby boomers, … Continued

Number of families in private rented sector has increased by almost a million in last decade

  The long-established decline in homeownership rates in England appeared to pause last year. However rates again fell among families with children, continuing a longer-term shift into the private rented sector, the Resolution Foundation said today (Thursday) in response to the 2014/15 English Housing Survey. The survey showed a welcome pause in the long-term decline … Continued

Over 400,000 households in London spend more than half their income on housing

One in four private renters across the capital are ‘housing pinched’ Around 430,000 households across London – containing 990,000 people – spend more than half of their income on housing costs, according to new analysis published today (Wednesday) by the Resolution Foundation. The analysis shows that the proportion of ‘housing pinched’ households in London (those … Continued

Almost a third of all spending by under-30s goes on housing

Housing accounts for almost a third of all spending in households headed by someone under 30, compared to less than 20 per cent for those aged 50 to 74, the Resolution Foundation said in response to the latest ONS Family Spending Survey published this morning (Tuesday). The RF analysis of the latest ONS figures show … Continued

Close to 1.6 million UK households are ‘housing-pinched’ – spending more than half their disposable income on monthly rent or mortgage payments

Close to 1.6 million UK households – the housing pinched – are spending more than half their disposable income on the ongoing costs of housing each month, according to new analysis from the independent think tank the Resolution Foundation published today. Of the 1.6 million housing pinched, retired households and working age households in which … Continued

One in 10 mortgagors at risk of being trapped in ‘unaffordable’ borrowing finds new study

One in ten of today’s mortgagors risk being imprisoned by borrowing deals which are likely to make their repayments unaffordable as interest rates rise over the next four years according to new research from independent think tank the Resolution Foundation. The study suggests that around 770,000 households fall into both of two potentially problematic categories … Continued

Up to 2 million UK families face perilous debts by 2018

Britain faces the mounting prospect of a household debt crisis as analysis from independent think tank the Resolution Foundation suggests that a least a million British families, and possibly as many as 2 million, could be spending more than half their disposable income on repayments by 2018 The study uses the latest five-year growth projections … Continued

Shared ownership more affordable than help to buy for low and modest income working families

A major expansion of newly built shared ownership could help low and modest income working families across the country onto the property ladder, while keeping their housing costs affordable, according to new analysis from independent think tank the Resolution Foundation. The report, One foot on the ladder, shows that shared ownership – where buyers purchase … Continued

Olympic inspiration for new family housing

The planned conversion of the Olympic Village to 1,400 high quality long-term private rental homes should serve as an inspirational model for how to tackle the UK’s housing crisis according to new research published today by independent think tank the Resolution Foundation. The report argues that with one low to middle income family in four … Continued

Stagnant economy will mean record numbers renting their homes

Just one in four households will own with a mortgage by 2025 if the economy continues to stagnate, pushing record numbers into the private rented sector, new research says today.   A new report commissioned by the Resolution Foundation and Shelter from Cambridge University looks at how the housing market will change if current economic … Continued

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