Many people 'still want to own a home'

Posted: 13 Jul 2011 13:37:46 GMT

Home ownership remains the route of choice for many, it has been found.

Many people in the UK remain eager to own their own property, new research has suggested.

According to a report from the Department for Communities and Local Government, owner-occupation is still the number one choice for the majority of individuals, the Council of Mortgage Lenders reports.

These findings come despite figures from the English Housing Survey revealing a significant increase in the number of UK adults choosing to rent accommodation.

The statistics from the Department for Communities and Local Government - which is aiming to end 'big government' and create a fairer Big Society - showed 86 per cent of English people would choose to buy a dwelling if they had the means to do so.

Indeed, it was shown that desire to own was particularly prevalent among young individuals.

Those between the ages of 18 and 24 had both the greatest preference for purchasing and most expected they would own an abode in the future.
 

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