Fewer set to own a home

THE number of Britons who own their own home is set to fall by two million during the coming decade as people continue to struggle to get on to the property ladder, a report has indicated.

The proportion of people who are homeowners has dropped from a peak of 70.9 per cent in 2003 to 67.4 per cent in 2009-10, according to the Genesis Housing Association.

The group said if the current trend continued, only 60 per cent of the population, or 15.5 million people, would own their own home by 2025 - 1.9 million fewer than now, while about a quarter of households would rent their home from the private sector.