There has been relatively little change in overall levels of home ownership in recent years according to data released over the weekend. 

The latest English Housing Survey produced by the Ministry of Housing, Communities & Local Government shows homeownership rate remaining stable in 2024 at 65%.

There was a slight increase in the number of people owning their home with a mortgage, although the majority of homeowners (around 55%) own outright, which is largely a reflection of demographic trends. 

The proportion of households in the private rented sector remained stable at 19%.

Looking at trends over the long term, homeownership rates among younger age groups, in particular those aged 25 to 34 and 35 to 44, remain well below their 2004 peaks. 

Homeownership amongst those aged 25 to 34 has been gradually improving over the last decade however and now stands at 45%, compared to 36% in 2014, though still below 2004 peak of 59%.

Analysis the data, the Nationwide’s chief economic Robert Gardner says: “The number of households in England owning their homes outright has increased by 1.3 million over the past ten years to reach 8.7 million. 

“This reflects demographic developments, in particular a rise in the number of older households (aged 65+), where the number owning outright has increased from 4.5 million to 5.4 million over the last decade.”