Home ownership increases for first time since 2005

Home ownership in England has increased for the first time in a decade, according to the English Housing Survey. It said that 5,000 extra households owned their own home in 2014/15, totalling 14,324,000. While a small increase, it is the first time the number of homeowners has increased since 2003. The rise came mostly at the expense of the private rented sector, where there was a decline of almost 100,000 households over the course of the year, the first time the number has dropped since 1999, totalling 4,278,000. The number of socially renting households declined by around 8,000 to 3,912,000. Housing and planning minister Brandon Lewis said the figures showed the success of government initiatives. “Our efforts are turning that around with more than 270,000 families helped into home ownership through government-backed schemes since 2010, while the number of new homes is up by 25% over the last year,” he said. “We have set out the boldest ambition for housing in a generation, doubling the budget so we can help a million more people into home ownership, while delivering a bigger, and better private rental sector.” Home owners and renters Create line charts To send feedback, e-mail alex.peace@estategzette.com or tweet @egalexpeace or @estatesgazette