Downward trend in owner occupation slows

The downward trend in owner occupation as a proportion of all dwellings has slowed, falling from a peak of 69.5% in 2002, but starting to level out at 62.4% in 2015 to 62.3% in 2016, the latest Government statistics reveal.

According to the recently published Dwelling Stock Estimates: 2016, England, which presents estimates of the number of dwellings in England and each local authority district, there were 23.7 million dwellings in England on 31 March 2016. This is an increase of 190,000 dwellings (0.81%) from the same point last year.

The report highlights that of these, 14.8 million dwellings were owner occupied dwellings, 4.8 million were private rented dwellings, 2.4 million were dwellings rented from private registered providers (housing association) and 1.6 million were dwellings rented from local authorities.

Between March 2015 and March 2016, owner occupied dwelling stock increased by 101,000 and private rented stock increased by 74,000. Social and affordable rented stock increased by 12,000 dwellings and other public sector stock increased by 2,000 dwellings.

According to the report, private rented sector dwellings now represent 20.4% of total dwelling stock after successive increases. The number of social and affordable rented dwellings (the total rented from Private Registered Providers and Local Authorities) increased year on year resulting from a rise in Private Registered Provider dwellings exceeding the fall in Local Authority stock.

Statistics also show that vacant dwellings in England decreased by 1.7% from October 2015 to October 2016. On 3 October 2016, there were 589,766 vacant dwellings in England, compared to 600,179 on 5 October 2015, a decrease of 10,413. Vacant dwellings currently make up 2.5% of the dwelling stock.

Long-term vacant dwellings are also down, dropping to 200,145 on 3 October 2016 from 203,596 on 5 October 2015: a fall of 3,451 (1.7%). Long-term vacant dwellings make-up 0.8% of the dwelling stock.

 

ANY PROPERTY USED AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. 

 

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20th April 2017