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Industry News February 18, 2018

Young People Locked Out Of Housing Market

A recent report from the Institute of Fiscal Studies (IFS) reveals that there has been a decline in home ownership among middle-income earners, with the biggest drop in the South East of England.

Middle-earners are considered to be 25 to 34 years-of-age and taking home pay of between £22,200 - £30,600. According to the findings, in 1995-96, 65% of this group owned a home, but just 27% owned a home in 2015-16.

Andrew Hood, a senior research economist at the IFS said: "Home ownership among young adults has collapsed over the past 20 years, particularly for those on middle incomes.

"The reason for this is that house prices have risen around seven times faster in real terms than the incomes of young adults over the last two decades."

BBC News looks at the report in more detail and you can read the full story HERE.

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