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In your Liverpool home - but not for 10 years

Young couples locked out of property ownership face kids or cash dilemma

Published on January 22nd 2015.

In your Liverpool home - but not for 10 years

A COUPLE with a child in Liverpool face being locked out of home ownership for almost a decade, according to research released today by a leading housing charity.

Even childless couples face nearly five years of saving. It will leave many with the dilemma of getting on the property ladder or starting a family, says Shelter.

And if you are single and looking to buy a place on your own, you aren't going anywhere soon. Findings show you may have to rent or stay put at your mum’s for just under a decade to raise a mortgage deposit. 

The Shelter research looked at average wages, house prices, rents and spending on essentials to show the formidable challenge faced by those trying to save for a home of their own in the North West.

It found that in Blackpool, families face more than 11 years to save for a deposit, in Manchester they will have to wait ten years. 

With house prices at their highest for five years, Shelter blamed successive governments’ failure to build enough affordable homes, leaving "millions trapped in an unstable and expensive rental market, where saving enough for a home of their own is now just a distant dream".

A separate Populus poll for Shelter shows that 6 in 10 parents across the country believe that young people’s prospects for getting on the housing ladder have worsened over the last few years. For parents with children aged 16-18 the figure rocketed to over 70 percent.

Shelter boss Campbell Robb said: ‘The reality is that unless we get a grip on the housing shortage soon, children today could spend decades paying out dead money in expensive rents, or living at home well into adulthood with little hope of planning for their own families.

 “Successive governments have announced scheme after scheme promising to help first time buyers, but these have just papered over the cracks.”

According to the Office of National Statistics, the number of 25-34 year olds who own their own homes has almost halved in the last decade. 

Out of 23.4 million homes in the UK,  8.3 million (36 per cent) are now rented. 

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6 comments so far, continue the conversation, write a comment.

Katie54January 22nd 2015.

This article conflates two things: the difficulty people now have in getting a mortgage, because of changed lending guidelines, and the housing shortage in the South East of England. Demand is not outstripping supply here. There is no shortage of affordable housing to buy, and prices are pretty flat. The problem is getting a deposit and a mortgage. What we do have a shortage of is good, affordable rental housing.

2 Responses: Reply To This...
Student GrantJanuary 22nd 2015.

Which is exactly what we knew would happen when Thatcher repealed the Housing Act. Who would want to rent a property long term in Liverpool or any other city when the landlords are mostly accidental and can come into your home or carry out an eviction, revenge or otherwise, at whim?

Clare ShawJanuary 22nd 2015.

The critical word is "affordable". Given that the cost of living and dying are continually rising, with the exception of the odd hiatus, young people are having to run to stand still. Once having saved enough for a deposit, the realisation that they haven't factored in how they are going to eat, keep warm and ultimately raise a family, has still to dawn upon them. The fact that many of the salaries in this part of the world do not meet their expectations or aspirations is yet another hindrance. Many older people will testify that if they were now starting out, they too would not be able to cope.

AnonymousJanuary 22nd 2015.

It will be impossible for people to enjoy good social housing again. It will never return. For many people who endured Rachman style landlords in the 1960s and 70s, getting a corpy house with a garden was a major ambition. But then Mrs T allowed tenants to buy them. Now we find they are being rented out by the offspring of those very tenants for ridiculous rates and no security of tenancy.

AnonymousJanuary 22nd 2015.

House building is the tip of the iceberg but will be a massive help. most of the UK's wealth is held by those over 40 in big pensions and big houses, wealth accrued on the back of a decade long boom in the 90s and 2000s and dirt cheap credit. The young get crap jobs, crap pension schemes and expensive risk adverse credit. Its a massive injustice and its the sensibilities of the same older voters that hold back planning permissions and building and make more affordable housing unavailable because politicians are too afraid to do anything that could undermine unrealistic houseprices and make the older generations feel less secure in their wealth.

Sir Howard WayJanuary 22nd 2015.

This so-called "housing ladder" was unknown in this country before 1985. It's another American introduction forced upon us by right-wing media pressure. . . Until the early 1980s tenancies were secure, rents were fair, and if you wanted to buy a house it cost three times the average salary and was therefore affordable. People had proper jobs, even private sector workers had occupational pensions and then of course, Thatcher came along and wrecked everything.

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