Fewer adults want to own their own home

More than one in four adults in some British cities no longer have any desire to own their own home, new figures by the National Association of Estate Agents (NAEA) reveal.
 
In Cardiff, 30% of adults no longer wish to own property, compared to 27.7% in Manchester and 25% in both Brighton and Belfast. At the other end of the table, just 10.3% of adults in Southampton said that they did not want to own property, while 11.1% of Londoners agreed. Nationally, 16% of adults say that they have no desire to own a property.
 
Peter Bolton King, chief executive of the NAEA, said: “The recession has left many people feeling that they cannot get onto the property ladder. But the recession alone cannot shoulder the blame. The Government has so far refused to create a level playing field for house-hunters by reforming stamp duty, a tax on aspiration. Likewise, the major lenders are not doing enough to help responsible people borrow appropriately to finance house purchasing.”