UK's love affair with homeownership continues despite Brexit

A new survey shows that despite the surprise and uncertainty brought about by the Brexit vote, the UK’s enthusiasm for home ownership has not dampened, with 72% of adults surveyed wanting to be homeowners in two-years’ time.

The Council of Mortgage Lenders (CML) commissioned YouGov to undertake consumer research into the general public’s homeowner aspirations from 24 June to 07 July, the period directly following EU Referendum – a time when one might have expected to see a different picture to that of earlier surveys.

However, the results of the survey were resoundingly in favour of homeownership, with 72% of adults reporting that they would like to be home-owners in two-years’ time and 80% of respondents wanting to be homeowners in ten years’ time.

Bob Pannell, chief economist, CML said: “The British love affair with home-ownership appears to have survived Brexit.

“In a world with few certainties, this may be one worth holding on to as we navigate the uncharted waters ahead.

“While we cannot rule out the possibility that the Brexit vote may have dented the desire for home-ownership, the underlying preference for this tenure is clear.

“Indeed, the proportion of adults hoping to be home-owners in 10 years’ time remains in line with its 30-year average.”

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26th July 2016