Posted 14.08.17
Local Government Association (LGA): Article link
Nearly two thirds (59%) of private renters on the lowest incomes in England never expect to buy their own property because they won't be able to afford one, as councils warn of the nation's growing "home-owning hopelessness".
The latest English Housing Survey figures show there has been a noticeable increase in the amount of renters that say that affordability will stop them from owning their own home. In 2008/9, the proportion of this group was 56%, compared to 70% in 2015/6.
Private renters spend on average 35% of their income on housing costs, compared to those who own their home spending just 18%.
The LGA said councils need powers and funding to create a mix of affordable housing options, both for renters hoping to save up for a deposit and those looking to buy, to help boost affordability and home ownership.
