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Mortgages -
Halifax marks fall in owner-occupiers - 15/02/2008
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Owner-occupation figures have plunged to the lowest level yet measured, Halifax has said.
The annual figures from the mortgage provider showed that owner-occupied homes fell by 83,000 to 14.53 million - testifying to the growing strength of the buy to let market.
High house prices have also been blamed for the trend.
These figures, which showed a second successive annual decline, marked an owner-occupancy rate of 69.8 per cent - its lowest level since 1998.
Figures covering 2001-2006, also released by the mortgage provider yesterday, showed that the London market experienced the sharpest owner-occupation fall.
The rate for the capital city fell by 111,000 - or 6.3 per cent - over the period, Halifax found.
Martin Ellis, chief economist at Halifax, said: "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.
"The figures for owner-occupancy clearly demonstrate that these affordability issues are most pronounced…in southern parts of England."
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