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Only 60% of population will own their own home by 2025

Allsop Residential Investment Management have released their Residential Insight report for summer 2011 highlighting that market recovery remains fragile and slow as both the consumer and the UK’s production industries have slipped into technical recessions. More positively however the report notes that employment levels have continued to rise and the deficit reduction plan is largely on target.

The forecast for future home ownership remains bleak as it is anticipated that if the current trend continues, only 60% (15.5m) of the population will own their own home by 2025, 1.9m fewer than now, while a quarter of households (6.5m) will rent from the private sector.

There is also a warning of a possible shortfall of 750,000 homes across England in less than 15 years unless government housing policy is reviewed and new measures to boost supply are implemented. The UK has now seen house prices rise or remain unchanged for the first six months of 2011, with the highest increase being 0.6% in February.


Notes to editor

ARIM is a subsidiary of Allsop LLP. It is regulated by The Royal Institution of Chartered Surveyors and is a member of and regulated by ARMA, the Association of Residential Managing Agents

Contact

To arrange an interview or for the supply high resolution images or further information please contact Anna Jones
Anna.Jones@allsop.co.uk
020 7543 6728