People give up on home ownership

Our latest piece of research has shown that one in four adults in some British cities no longer have any desire to own their own home. Not a great sign for a recovering market.

We found that this lack of desire was most prominent in Cardiff with 30% of adults no longer interested in owning their own property. This compared to 28% in Manchester and 25% in both Brighton and Belfast.

At the other end of the spectrum only 10% of adults in Southampton said that they did not want to own property, while 11% of Londoners agreed.

Nationwide we found that 16% of adults say that they have no desire to own a property.

This doesn’t come as a huge surprise as many consumers are struggling with the effects of the recession, high house prices and a lack of mortgage lending! Yet we have to be careful not to put the whole blame on our current economy- the Government should shoulder some of the blame too.

So far they have refused to create a level playing field for house-hunters by reforming stamp duty, a tax on aspiration.

It will be a sad day if any British man or woman gives up on acquiring their castle!


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