Mortgage-free households on the rise in England
- Published
Home ownership in England has seen significant shifts in the last decade
More properties were owned outright than with a mortgage among households in England for the first time in 2013-14, figures show.
Of the 22.6 million households in England, 7.4 million owned their property outright, and 6.9 million had a mortgage, the English Housing Survey, external showed. The rest rented their homes.
This marked a shift from an equal level among owners a year earlier.
The data also shows that the younger generation are struggling to own.
In 2013-14, some 48% of households made up of 25 to 34-year-olds rented their home from a private landlord.
This had risen from 45% a year earlier, and from 21% in 2003-04.
Over the same 10 years, owner occupation in this age group dropped from 59% to 36%.
Campbell Robb, chief executive of Shelter, said: "The shortage of affordable homes is leaving young adults with no choice but to remain stuck in their childhood bedrooms, or face decades paying out dead money to landlords."
