Latest statistics from the official EU’s bureau Eurostat has highlighted an interesting figure that the percentage of home owners in the UK has fallen to 64.6% and it’s predicted to fall below France’s overall percentage which stands at 64.3%, for the first time.
Other statistics from the Intermediary Mortgage Lenders Association also pointed out that 2.5m homes that were built between 2000 and 2012 entered the private rental sector and out of the 2.5m, only 40,000 were bought by the occupiers. Since 1996, there have been 2.6m additional homes rented out in the private sector and 1.4m financed by buy-to-let loans.
Although more people are venturing into the property investments market causing a decrease in home owners, it’s just one of many reasons as to why home rentals are in higher numbers.
Other factors include high housing prices, stricter mortgage lending, increase in interest rates, the recent financial crisis and more. Of course, we’d all love to own our own house with a garden and a nice driveway, but for some it’s a dream that can be more difficult to achieve. It may sound a little ironic, but opening the front door to the property investments world to begin with might not be a bad idea. Think about it, you would have taken your first step onto the property ladder and you’ll be earning additional regular income along the way, all of which can be put into your savings for a mortgage for that dream house of yours.
I know what you may be thinking, how I can get involved with property investments if I’m struggling to own my own house in which I intend to live in? Well, it’s all rather quite simple; property crowdfunding with The House Crowd.
These figures may seem overwhelming at first, but don’t let it put you off from stepping onto the property ladder and as we mentioned before, investing in a property first might be a solution. For those looking for a simpler, stress free and smarter way to invest in a property, then we can’t recommend enough about getting in touch with The House Crowd today for more information about how our property crowdfunding platform works.