Charitable organisation Shelter has released a report highlighting the potential implications for young investors if house prices across the UK continue to rise. Research conducted by Shelter has revealed that the chances of individuals in their twenties ever owning a house of their own is less than 50%, and will remain so if the current cycle of house price boom and bust continues.
This figure would change noticeably should house prices stabilise. For example, potential homeowners in the southwest of England would see their chances of buying increase from 38% to 74% while those in the West Midlands would have almost an 80% chance of owning their own property.
Campbell Robb, Chief Executive of Shelter, comments: “Unless house prices are stabilised, the grim reality is that - apart from a lucky few able to rely on the Bank of Mum and Dad - soaring prices may well lead to the prospect of home ownership slipping even further away from even more of us. From families left with no choice but unstable private renting, to the tragedy of repossession and negative equity, people are paying the price for our broken property market.”
Click here to access the new report.