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Posted on: 4 March 2014
By: mackene
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Filed under: News
The report by housing experts Natalie Elphicke and Calum Mercer of Million Homes, Million Lives, warns of “permanent structural change” in the UK housing market, saying that on current trends by 2033, owner occupation could be as low as 55 per cent, falling to below 50 per cent by 2041. However, the authors flag up strongly that these trends fly in the face of what people want. The report draws on evidence showing that the desire to own a property is as strong as ever with only 3 per cent of people choose long-term renting as their first choice. The report advocates a revolution in the financing of house-building and home ownership, urging sweeping changes designed to encourage the big insurance companies and finance houses to invest in long-term property portfolios that actively promote and enable people to buy the homes that they live in.
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