Fewer young people in the UK have the chance to become homeowners

admin8 years agoOctober 18, 2019No comment

posted on Feb. 20, 2018 at 2:17 pmOctober 18, 2019

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Only a quarter of young people under the age of 34 years with an average income in the UK are the owners of your personal home or apartment. This rate fell significantly in 20 years, when two-thirds of young people from the same social group were homeowners. In a study conducted by the Institute for Fiscal Studies the UK was taken into account, opportunities for young people aged 25 to 34 years. It is this age group most affected by the growth of prices for residential property in the UK, which outstripped the increase in their income.

You are rich or poor, the chance to buy their own property in England or Wales you have a lot less than young people a few decades ago. Over the past twenty years, property prices in the UK grew on average 20 times faster than wages in this category of people. So, housing prices in 2015/2016 years 152% higher compared to 1995/1996 years, and the income Britain grew by only 26% over the same period.

In this age group the average annual income ranges from £22200 to £30600 per year after taxes, a third of these people have a University education, 75% live with a partner and 60% have children.

Among those born in the late 80’s, only 25% own their own house or apartment in the UK, among those born in the early 80s, about 5 years earlier, owners of their own homes – 33%, and among those born 10 years earlier owners of their own homes 43%.

® Alice Morgan. 20.02.2018 G.

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