Despite the apparent rise of a generation of renters, home ownership remains the priority for adults in the UK, according to research from the Council Of Mortgage Lenders (CML) .
According to its report, 72% of adults surveyed wished to own a property in two years’ time while 80% wanted to do so within the next 10 years.
It also confirmed partial home ownership, via Shared Ownership schemes or shared equity,was regarded as a good idea by half of respondents, five times the number who believed it was a bad idea.
CML director general Paul Smee said: “Like all good research, the findings give rise to some searching questions for the industry and the Government – not least, how far it is possible to balance the tension between aspiration and achievability?
“This continues to be a feature of the UK’s relationship with home-ownership.
“Should tenure neutrality be the ultimate policy aspiration?”
The study also showed a majority of people, regardless of their own circumstance, felt it was harder than it had ever been for young people to buy a home.
Three quarters believed action was necessary to help first-time buyers, with people seeing ministers as having responsibility alongside mortgage lenders, house builders and local authorities, to offer assistance.
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