New report warns only well-off will be able to afford to buy
Our report Broken Market, Broken Dreams reveals that first-time buyers today have to earn more, borrow more, stump up a larger deposit and rely more on family wealth than even a generation ago.
Only the wealthiest of the next generation will be able to buy a home if current trends continue, warns the National Housing Federation today, as a new report shows that first-time buyers now have to pay, in real terms, ten times the deposit needed in the early 1980s.
For the first time this year we also commissioned polling from YouGov to gauge public opinion of the housing crisis to sit alongside our data. That showed almost 80% of people in England think it’s harder to own a home now than it was for their parents’ generation. Eight out of 10 people polled also didn’t believe any of the main political parties would effectively deal with housing.
We have also created regional reports, analysing the impact the housing crisis is having on each region of England:
- East Midlands
- East of England
- London
- North East
- North West
- South East
- South West
- West Midlands
- Yorkshire and the Humber
Source:- http://www.housing.org.uk/media/home-truths/
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