Key UK Housing stats: the HomeOwners Alliance 7th annual housing survey

Key UK Housing stats: the HomeOwners Alliance 7th annual housing survey, compiled with YouGov, captures top UK housing concerns and interesting trend data.

The report has a spotlight this year on:
  • Widespread concerns about poor quality housing, difficulties getting on the property ladder and the ability to get and repay a mortgage;
  • the generation trapped in rental accommodation;
  • the problems with Shared Ownership and Help to Buy and the growing popularity of Build to Rent;
  • the extortionate costs imposed by freeholders or leaseholders;
  • overwhelming support for our Hold Back Cash campaign for new build home buyers to withhold the full property price until all snags and faults are rectified;
  • the preclusive costs of home improvements;
  • how much our homes contribute to our mental health.

The survey also contains regional data and looks at the conditions affecting the housing market, including the uncertainty spawning from Brexit. We have produced several press releases on different data in the report, but this report brings all the findings together comprehensively.

Report Highlights:

Difficulties for aspiring first-time buyers at 6 year high

The number one UK housing issue remains the difficulty of getting on the property ladder in the first place. 

  • This has consistently been the top housing concern (since 2014) with 87% of UK adults and 91% of aspiring first-time buyers saying this year that the ability to get on the housing ladder is a serious problem. This is the highest level since tracking began 6 years ago.
  • 85% say saving for a deposit and 82% say house prices are serious housing problems.
  • Meanwhile, less than half of renters (46%) think Shared Ownership is a good idea as an alternative to renting and a third (32%) think it is a bad idea.

Leasehold extortion

  • 60% of Britons now say the leasehold system is a serious problem, up 18% from 42% five years ago.
  • Most leaseholders (54%) have experienced problems with the high cost of works and management fees top of their list.

Mortgage and housing quality concerns

  • Three quarters (76%) of UK adults say the availability of housing is a serious problem and nearly two thirds (63%) are worried about the quality of our homes.
  • The ability to get a mortgage and repay a mortgage is seen as serious problems among nearly two-thirds (64%) of UK adults

Hold Back Cash Campaign for new build home buyers

  • Almost 9 in 10 (87%) new build homeowners support a system to withhold funds from house builders until they rectify faults.
  • Only 57% say the warranty provider fulfilled their responsibility to resolve disputes with builder in first 2 years and put right structural problems after 2 years.

8 out of 10 homeowners hit obstacles preventing home improvement plans 

  • 79% of homeowners have encountered obstacles preventing them from progressing renovation projects
  • The most common is finding a reliable builder (42%)

9 in 10 people say home contributes to mental health

  • 87% of UK homeowners and renters say aspects of their home contribute to their positive mental health. Having a well maintained outside space polled the most important factor for positive mental health (58%).
Paula Higgins, Chief Executive of the HomeOwners Alliance, says: 

“Problems in our housing market have reached a crisis level and Government needs to rethink its approach by thinking more holistically and  longer-term. We crave a stable functioning housing market that delivers for everyone – from those struggling to get on to the ladder to those who find themselves at the whim of the leasehold system. Our annual survey shows more first-time buyers than ever before reporting their struggle to get on the ladder, demonstrating how government and industry is failing a whole generation.

“Our survey shows that although we are building more, we are not building better – concerns about the quality of our homes are our top housing concern. Meanwhile concerns about problems in the leasehold – freehold system has reached a five-year high.

“Our report also highlights barriers to buying a home, such as the complexity of schemes including Help to Buy. It also highlights issues homeowners face, such as finding reliable builders and the high cost of VAT.

“And it also tells us that we cannot underestimate the importance of people’s homes – they effect everything from feeling secure and safe to our well-being.”

Read the report here.

 

Kindly shared by HomeOwners Alliance (HOA)