‘A Scotsman’s Home is his Castle’ is (almost!) the phrase that was coined
in Victorian times as the UK has a reputation for being a country of home
owners ... but the truth could be further from the point, because in
a league of the top 46 economic nations of the world, where owning your
property is permissible, the UK is only ranked no.37.
As I have mentioned, at the end of the First World War, 77% of people
rented their home (the vast majority renting from a private landlord as Council
Housing was still very much in its infancy). Homeownership rose very slowly in
the 1920’s and started to grow as the economy grew after the Great Depression.
However, after the Luftwaffe had flattened huge swathes of housing in the early
40’s, the priority was to get people into clean and decent accommodation ... so
Local Authority’s (Councils) took up the baton and they built large council
estates in the 1950’s and 1960’s.
As the UK economy got back on its feet in the middle part of the 20th
Century and wages rose, people decided they wanted to own their own home
instead of renting. Throughout the post war decades, it became easier to secure
a mortgage. Interestingly, by 1977, 61.6% of 30 to 34 year olds were owner
occupiers with a mortgage compared to 8.7% of 30 to 34 year olds being in
private rented accommodation (the remaining either being in council housing or
living with friends or family). Ten years later, in 1987, we saw some
significant growth in homeownership, as 68.2% of 30 to 34 year olds had a
mortgage and only 4.6% of people privately rented. A decade later and there
wasn’t much change in home ownership as, in 1997, the homeownership figure was
68.3% but private renting had jumped to 12.1% in the same 30 to 34 year old age
group.
Move on another ten years to the 2007 figures, and this showed a slight
drop in homeownership to 65.8% but renting had continued to increase to 18.7%
(in the 30 to 34 year old age group). The latest set of figures shows that only
47.2% of 30 to 34 year olds had a mortgage and an eye watering 33.4% of 30 to
34 year olds privately rent.
When we look at the Falkirk figures of homeownership, the latest census
in 2011 showed home ownership in Falkirk was 64.7% and private rented was 7.3%.
Private renting will increase not because property has become more expensive
but because 30 somethings haven’t got a council house to move into (because
they were all sold off) – so they have to rent privately. The selling of
council housing in the 1980’s (a subject I have talked about in a previous
article in the Falkirk Property Blog) artificially grew homeownership in the
1980’s, but as these people have got older, the younger generation didn’t have
the same opportunity to buy their council house in the 1990’s, 2000’s or
2010’s. That is why, unless the council start building council houses by the
acre, and hundreds of acres at that, private renting will continue to grow in Falkirk.
So if you want blame anyone ... blame the Grocer’s daughter from Grantham
– Mrs T …. but before you do – do remember in the 1970s, the UK was called the
"sick man of Europe" by critics of the UK government, because of
industrial strife and poor economic performance compared to other European
countries culminating with the Winter of Discontent of 1978/9 and if it hadn’t
been for her we wouldn’t be where we are today.
If you would like any advice on the Falkirk property market, feel free to
pop into our office at 6 Vicar Street, Falkirk for a chat, give us a call 0324
469840 or email me on robert@thekeyplace.co.uk.
I want to convey my appreciation for your kindness for people that should have guidance on your issue. Your very own dedication to passing the solution up and down was remarkably advantageous and has without exception enabled employees like me to reach their goals. Your new warm and friendly tutorial implies so much a person like me and extremely more to my office colleagues. Many thanks; from all of us.
ReplyDeleteconstruction insurance broker
There's so much to do in the Myrtle Beach area that you are going to want to stay an additional week only to receive everything in. To know more about notary public miami, browse this site.
ReplyDeleteThank you for sharing such a valuable information. keep sharing this kind of articles.
ReplyDeleteAlso check - Siddhivinayak Homes are one of the leading real estate builders & developers in Navi Mumbai developing ultra-luxury residential properties, commercial office spaces and township projects in and around Navi Mumbai and Mumbai.residential projects in navi mumbai
property in navi mumbai
1 bhk in navi mumbai
flats in navi mumbai
flats in kharghar
buy flat in navi mumbai
buy a flat in navi mumbai
builders in navi mumbai
Nice blog! I love this hostel very much. I will definitely visit and stay to that place.
ReplyDeletecheap property in Islamabad
Thanks for sharing this awesome blog.
ReplyDeletesarvome high street
Today, I went to the beachfront with my kids. I found a sea shell and gave it to my 4 year old daughter and said "You can hear the ocean if you put this to your ear." She placed the shell to her ear and screamed. There was a hermit crab inside and it pinched her ear. She never wants to go back! LoL I know this is entirely off topic but I had to tell someone!
ReplyDeleteconstruction insurance broker
Hi! I know this is kinda off topic but I was wondering if you knew where I could locate a captcha plugin for my comment form? I'm using the same blog platform as yours and I'm having problems finding one? Thanks a lot!
ReplyDeleterestaurant insurance broker
Thank you for sharing such a beautiful information, I hope u will share more information.
ReplyDeletevisit Property Maintenance in Clapham,
Property Maintenance in Clapham
When you consider the view and the high end amenities, you can't help but want to live there. If you want to get more interesting details about condos, you may go here to know more about it.
ReplyDeleteAwesome Blog! It is an interesting post for everyone.I got more information from this post. I like it.
ReplyDeleteBuy To Let Stamp Duty
Your article has piqued a lot of positive interest. I can see why since you have done such a good job of making it interesting. Property for sale in Cyprus
ReplyDeleteFind your perfect property in France. Search from thousands of villas, houses and apartments. Find your dream home in France. Property for sale in France
ReplyDeleteDenver Property Management
ReplyDeleteDenver property management helps you with a robust experience to sell home during this pandemic with effective tips. Follow us and catch the difference. Pick up ideas that you can put to sell your house during a pandemic.
to get more - http://www.integrityrm.net/denver-property-management/
Thanks for such a pleasant post. This post loaded with lots of useful information. Keep it up. If you are looking for the best information and suggestions related to investment property then visit Themortgageagency.com.au.
ReplyDeleteThanks for this post. RealEstateCake is the online Real Estate Investors platform for getting deals online.
ReplyDeleteThanks for this informative post. Find the best Home for Sale in Alabama deals online at Residential Alabama.
ReplyDeleteThanks for this post. Going for New Home Construction in United States then book the best home builders at GetNewHomeRebateRealty online and get amazing rebate back. Calculate your rebate now, Rebate Calculator
ReplyDeleteThanks for this informative post. Now get the best beach Real Estate Florida deals online at PremierCoastRealty LLc.
ReplyDeleteIn the recent past, the real estate agents in limehouse and other cities like Simcoe, Oakville, Burlington, Oak Bay, West Toronto and Brampton have seen a significant increase in the number of transactions for properties they market. For more information about property management read me.
ReplyDeleteBokadia is a free guest posting site. Here we will upload latest Education, Technology, Gadget, Cyber Security, Entertainment, Python, Tourism related news.
ReplyDeletehttps://bokadia.in/
Affordable garden design or Garden Plants read whole
ReplyDeleteHere's a research i did on garden landscape design,hardscape contractors and landscape management and designs services in singapore. i found a Best Company They Provide garden landscape design Custom Garden Design Buit From Scrach a lot of cool and classic stuff's like designer water features they Have huge nursery where you can rent or Buy Plans For outdoor and indoor
learn more aboutgarden plants
- https://chenwa.com.sg/products-services/
There is everything from apartments and houses, through to shops and offices. No matter how big or where your tastes lie, there will be a property somewhere in the Docklands to suit you. If you want to get more interesting details about estate agents canary wharf, visit this site right here.
ReplyDeleteProperty and Homes for Sale Bethel, Ny
ReplyDeleteAt bhhspetersrealty.com, we are committed to providing the best Property and Houses for Sale in Sullivan County, Roscoe, and Bethel, NY at economical rates.
However, if you are looking for an agent to help you sell or rent a property, you might want to check out some other firms in the area. To know more about estate agents Canary Wharf, browse this site.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteWhether you're looking for a one-bedroom condo or a two-bedroom suite, the Breakers has it all. When looking for a condominium for sale in Myrtle Beach, look no further than the Breakers Resort. To know more about homes for sale, check here.
ReplyDeleteI was looking for some property to invest some money in but I was a bit confused about how and where I can invest, Thanks to your article now I know where should I invest and get the most Return on Investment.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteImport Globals is one of the leading import export data provider for Vietnam, Indonesia, Philippines, and Mexico. For more information visit our website.
ReplyDeleteVietnam Export Data