UK home ownership among worst in Europe
Only 63.5 per cent of British people owned their own homes in 2015
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The rate people in the UK are able to buy their own homes is at the fourth lowest level in Europe, official new figures show.
According to the most recent figures compiled by EU statistics agency Eurostat, only Denmark, Austria and Germany – countries where the rental market is favoured – now have lower home ownership rates.
Home ownership reached a peak in April 2003, when 71 per cent of households owned their own homes. In 2015, 63.5 per cent did, down almost one per cent from 2014.
Across the EU overall, almost seven in ten people lived in owner-occupied homes.
In August a report by the Resolution Foundation found that home ownership had fallen to its lowest level in 30 years as the gap between earnings and property prices widened.
Germany, which has a renting culture, has the lowest rate in the EU with just over half (51.9 per cent) of people the home they live in.
The highest ownership rates were in eastern Europe including Romania, Croatia, Lithuania and Slovakia all around the 90 per cent mark.
With more demand for homes to rent in the UK, experts have predicted there will be a shortfall of 1.8 million homes by 2025.
Analysts say the problem is particularly acute for young people. The number of 25-to-34-year-olds owning their own home plunged has plunged about a third, or 334,000 since 2011.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments