13
Feb
Owner-occupied properties 'decrease'
In 2007, the amount of owner-occupied households dropped in
comparison to the year before, according to new figures released by
the Halifax Bank of Scotland.
During the year, the number of these owners fell from 14.621
million to 14.538 million, the organisation stated.
Such a drop was the biggest ever recorded, it added, while the
proportion of renting households rose to by 4.3 per cent to stand
at 2.6 million, Halifax added.
Chief economist at the bank Martin Ellis noted that the trends
indicate that affordability for consumers has diminished
recently.
"The fall in the total number of owner-occupied households in
England in 2007 largely reflects the increasing affordability
difficulties faced by many potential purchasers as a result of the
rapid rise in house prices in recent years," he commented.
In related news, the chairman of the National Landlords
Association, David Salisbury, said this week that landlords are
still optimistic about the current state of the market.