Britain’s over 55’s are increasingly becoming part of “generation rent” according to a range of sources.
Halifax’s ‘Generation Rent’ report found that despite the launch of schemes like ‘Help to Buy’ to give a boost to people with small deposits, 36% of 20 to 45-year-olds felt they have no realistic prospect of owning their home in the next five years.
Around half of people surveyed in England, Scotland and Wales agreed that Britain will soon become a ‘nation of renters’ and 20% of people aged 23 to 27 said they have no desire to own their own home. The report follows the 2011 Census which also found that the between 2001 and 2011 there was a fall in home ownership for the first time in a century with more people renting, especially in London a which has the highest number of people renting at just over 50% of households.
