Number Of Owner Occupied Homes In England Falls In 2006
A warning about the housing market? Or a change in trend to rented accommodation? Whatever the reason, 2006 witnessed the first fall in the number of owner occupied homes in the England since records began in 1939. So what is happening?
Official figures show that there were 14.62 million owner occupied homes in England which was a fall of some 25,000 from 2005. While not a large fall, this is the first time that the number of owner occupied homes has fallen for nearly 70 years.
The figure has shown a marked rise since 1953 when just 32% of homes were owner occupied. This figure gradually rose throughout the 1980s and 1990s with the Conservative government’s mass sell-off of council properties to their tenants.
The figure peaked at 71% in 2000 and has remained consistently around that level for some time. Even taking into account the fall in the number of owner occupied homes in 2006 the figure has only fallen slightly. We are however seeing a growing interest in rented accommodation, and a reluctance (or inability) for first time buyers to chase the current rising
market. This rise in rental figures has also been impacted by businesses which employ many workers in various areas of England on short term contracts.
A report out today also stated that the average cost of moving house has trebled over the last 3 years, with the average cost rising to some £9,500 - with estate agent fees and stamp duty the main bulk of the figure. It seems that costs in all areas of the housing market are on the rise, with many parties looking to squeeze the last pound out of the market!
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