Off the wire
• Lula da Silva accepts to be presidential candidate despite prison sentence  • Colombian gov't, rebels to seek new ceasefire accord  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • 2nd LD-Writethru: Syria vows military response to possible Turkish military campaign  • 1st LD: Syria vows military response to possible Turkish military campaign  • Urgent: Syria vows military response to possible Turkish military campaign  • Lula da Silva accepts to be presidential candidate despite prison sentence  • Colombian gov't, rebels to seek new ceasefire accord  • Hollywood actor criticizes U.S. gov't for pulling out of Paris climate agreement  • 2nd LD-Writethru: Syria vows military response to possible Turkish military campaign  
You are here: 　

Research shows chances for young Britons to buy homes cut by half

Xinhua,February 16, 2018 Adjust font size:

LONDON, Feb. 16 (Xinhua) -- The chances of a young British adult owning a home on a middle income have been halved in the past 20 years, said research released on Friday.

Home ownership among the middle income earners aged 25 to 34 has fallen from 65 percent two decades ago to 27 percent in 2015 and 2016, according to findings from the Institute for Fiscal Studies.

Middle income earners are considered those who have a take-home pay of 22,200 to 30,600 pounds (31,164 to 42,956 U.S. dollars)

The biggest drop in home ownership was observed in southeast England.

Local newspapers accused the explosion in house prices of having "robbed" the younger generation of the ability to buy their homes.

Over the past 20 years, house prices have grown about seven times faster than the average income of young people, said the study. As a consequence, those born in the late 1980s are much less likely to be able to buy their own homes.

Every region of Britain has seen a drop of 10 percentage points over the same period, IFS said. Enditem

 

Related News & Photos