Soaring house prices mean the number of young families buying their own homes has plummeted
Homeownership rates for people aged between 25 and 34 have halved in West Yorkshire and Greater Manchester and dropped by more than 40 per cent in Merseyside, East Anglia and the South West since the 1990s
The new analysis by the Resolution Foundation counters the popular perception that the struggle to get on the housing ladder is largely confined to London and the South East.
While Outer London has seen a big drop in home ownership for young families aged 25-34 with a 63 per cent fall between 1994 and 2016), West Yorkshire and Greater Manchester have also seen home ownership more than halved.
Falls of close to 50 per cent were also recorded in many other areas of the South East including Brighton, Southampton, Reading and Milton Keynes, along with Merseyside, East Anglia and the South West including Bristol.
The Resolution Foundation argues that such a seismic shift in home ownership puts the current younger generation in a very different position from that of the baby boomers currently leaving the workforce.
Homeownership rates for people aged between 25 and 34 have halved in some places
These stark falls, along with a decline in social housing, mean that many more young families are now living in the private rented sector, struggling to save for a housing deposit at the same time as paying rent.
Young families across the country simply cannot afford to buy their own home
With support for housebuilding rising, including among older voters, both main parties have made building more homes a key part of their pitch to voters in the June 8th General Election.
Conservatives have reiterated their 2015 commitment to a million more homes by the end of 2020, adding an additional target of another half a million by the end of 2022 while Labour has pledged to…