Renting, homeownership and COVID-19: Savills looks at what's changed – BuyAssociation

A new report released by Savills explores some interesting trends in the UK housing market. It also reveals the latest predictions across renting and buying.

Over the first 15 years of the 2000s, the number of private rented households in England more than doubled. Meanwhile, mortgaged homeowner numbers dropped by around 1.5 million. Homeownership stopped being a top priority for young people, with affordability as well as an abundance of rental housing both contributing.

For the past five years, the levels have remained largely the same; homeowners and private rented tenants are closer in number than ever. The Savills report, titled Changing drivers of tenure, looks at the reasons behind this plateau, and what factors may influence future market shifts.

More help for homeowners

In September 2019, there were around 8.43 million mortgaged homeowners in the UK, according to the Labour Force Survey. This is a fall of 1.53 million

Continue reading this article at https://www.buyassociation.co.uk/2020/04/30/renting-homeownership-and-covid-19-savills-looks-at-whats-changed/