During 2019 to 2020, an estimated 15.4 million households in England were owner-occupied – 8.3 million homes (54%) were owned outright (no mortgage), 6.9 million (45%) were bought with an ongoing mortgage (yet to be paid off), and 202,000 (1%) were bought through shared ownership.
Despite this, UK home ownership rates are falling and have been for quite some time – especially among adults of prime working age. According to the Office for National Statistics (ONS), a third of 35-44 year olds were renting in 2017. This is a significant increase since 1997 when just one in ten 35-44 year olds were renters.
So are Brits more or less eager to buy rather than rent, compared to the rest of the world? In our latest Guide provided by Comparethemarket, we take a look at the challenges both home buyers and renters face in the UK and across the globe. We’ll explore attitudes to homes to see where Brits stand on the great ownership vs renting debate:
Owning your own home: A global look at home ownership and renting
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