Labour Manifesto: Young Homeowners
“Fewer young people [are] able to buy their first home.”
- The number of young households owning their home has fallen, according to the English Housing Survey.
- Home ownership in England has been falling compared to private and social renting as a percentage of all tenures since 2003. This has been driven by a fall in the number of younger homeowners.
- The number of owner-occupiers under 65 fell by 962,000 between 2009/10 and 2015/16, predominantly among those aged 35-44. In the same period, the number of homeowners aged over 65 grew by 767,000.
- This data tells us about the age of current homeowners, not the age of first-time buyers. The average age of a first-time buyer is about 32, as it was in 2009/10 (again, this is from the English Housing Survey).