U.K. Consumer Attitudes towards Property Ownership: Active Trends and Outlook
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The study commences with the executive summary that shows the ownership continues to decline and the average age of first-time-buyers (FTBs) in U.K. is 32. Furthermore, the report has depicted the consumer that shows ‘My house is my future’; this represents the biggest target group and an analysis of February 2017 proves that two in five are in search for information on their local housing market. The later section shows the issues and insights of the market which highlights the various facts and implications consisting of various facets comprising, the millennials that are optimistic about property ownership, the digitization of the property marketplace, and mortgage holders more engaged with the value of their home.
Moreover, the report has detailed the market and has provided the housing demographics, which comprises facts including the proportion of owner-occupiers drops as renters increase, three out of five over-55s own their home, home ownership offers more stability, and household sizes are falling. The research has further completed the analysis of the market environment for property ownership and the regulatory & legislative context for the property ownership market. Lastly, the consumers of U.K. property ownership are discussed which shows various facts such as, people have a strong emotional connection to their home, one in five plan to buy in the next three years, digitization of the property marketplace, majority are happy with their housing situation and people feel negative about accessing the housing market.
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Finally, the attitude of the consumers towards the property ownership is listed that comprises varying belief such as, half think owning a home should be a financial priority, people have a strong emotional connection to their home, there is an idealistic view of using property equity for retirement, and people are now seeing the benefits to renting. The report concludes with consumer interest in the housing market, their source of information and attitude towards housing market is discussed, thus suspending the detailed research study.
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