The rise of Generation Rent: Proportion of Brits who own their homes falls by almost 2% in a decade

The rise of Generation Rent: Proportion of Brits who own their homes falls by almost 2% in a decade with number of renters surging by 3% – so what is happening where you live?

  • ONS analysis of 2021 census showed home-ownership fell from 64.3% to 62.5%
  • Proportion of households renting rose from 34.3% to 37.3% in decade from 2011
  • Home-ownership highest in Home Counties, Midlands, with enclaves in North
  • Social renting highest in major cites, private rental was highest in London

The number of people who own their own homes has fallen by half a million in the past decade, while the number renting soared by 1.3 million, new figures revealed today.

Analysis of the 2021 census by the Office for National Statistics showed 15.5 million households owned their homes outright or with a mortgage. This was up from 15million in 2011. 

But as a proportion of the population homeowners fell from 64.3 per cent to 62.5 per cent over the decade.

At the same time the number of households that were renting rose from 8million to 9.3million (34.3 per cent to 37.3 per cent).

An interactive map produced by the ONS shows that home-ownership was highest in the Home Counties and Midlands, with small enclaves in the North. 

Social renting was highest in the major cites, while private rental of homes was highest in London.

Use the interactive map below to find out what the situation is where you live. 

Within England, London had the lowest level of overall home ownership (46.8 per cent) of any region. 

The capital also had the highest proportion of households that rented privately (30 per cent) or in the social rented sector (23.1 per cent), the ONS found.

Two English regions had higher rates of overall home ownership than Wales: the South East (67.1 per cent) and the South West (67 per cent). 

However, Wales had a higher percentage of those who owned their home outright (38 per cent) than any English region.

The largest increase for any type of accommodation was for households in a flat, maisonette or apartment.

In 2021, 21.7 per cent (5.4 million) of households were in one of these, up from 21 per cent (4.9 million) in 2011.

And the census revealed that more than 100,000 were living in caravans. 

Source

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