Taken from ‘The Guardian’ 22nd July 2015
House price rises of 5% a year and a shortage of affordable homes are set to swell the ranks of “generation rent” over the next decade, so that by 2025 more than half of those under 40 will be living in properties owned by private landlords. Although first time buyer numbers rose in 2014 – to just over 300,000 the figure was well below the half a million a year previously regarded as normal. Research from the Council of Mortgage Lenders shows 71% of people born in 1970 were homeowners by the time they were 40, but among those born in 1990 the figure is likely to be just 47%.
To read the article in full click here: http://www.theguardian.com/money/2015/jul/22/pwc-report-generation-rent-to-grow-over-next-decade
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