This document discusses the challenges young people and renters face in affording housing. It summarizes: - Renters and young people struggle the most with housing costs, with over half paying more than a third of their income on rent or mortgages. Small increases in costs could make housing unaffordable. - Most non-homeowners see owning a home as important and prefer to buy rather than rent long-term. However, high deposits and prices mean many feel unable to get on the property ladder. - Shared ownership schemes could help some access homeownership, but many renters lack awareness of these options or don't think they are eligible. Better information is needed to increase understanding and

1. “You can just about afford to rent so
what makes you think you can afford
to buy a house…”
“It’s like when it says on the news the
average person buying a house in
London is in his 40s, so that don’t
give no hope for young people or
anyone really.””
“I think there’s a lot of mis-information
[about shared ownership] because
where do you hear about details and
stuff like that? I just heard of it years
ago, I just thought it’s for nurses…”
@BenM_IM
#sharedownership

2. Young/renters squeezed most by housing costs
Q
2
Approximately, what proportion of your total household income AFTER tax and national
insurance contributions, do you pay in mortgage payments or rent (excluding utility bills and
council tax). Would you say it is….?
More than a third
Age group
24%
18-24
25-34
35-54
55-64
49%
30%
HA rented
Private rented / other
54%
35%
47%
16%
Tenure
LA rented
29%
31%
57%
38%
33%
36%
30%
47%
31%
Social rented (LA & HA)
Base: 697 GB adults excluding those who own outright, 25 October-27 October 2013
Version 1 | Public
46%
31%
Owners
© Ipsos MORI
30%
42%
65+
Owned with mortgage
A third or less (excluding nothing)
57%
35%
Source: Ipsos MORI/Panorama

3. ‘Debt peril’ – some low tipping points
3
Q. Thinking about the total amount of outgoings your household has – that is the
amount your household spends to cover living costs and bills – what is the lowest
this would have to increase for you for start to find it difficult to afford?
% By £25-£49
per month
% By £24 or less
per month
27
22
18
11
Social renters
14
11
Private renters
Base: 2,016 GB adults 16-75, March 2013 (313 social renters, 289 private renters and
1,384 owner/occupiers)
© Ipsos MORI
Version 1 | Public
% By £50-£74
per month
13
11
11
Owner
occupiers
Source: Ipsos MORI for Halifax

4. “Momentum behaviour”: house price/rent expectations
4
Q. Do you think the average property price in the UK will be higher or lower in 12
months time or will it be the same? [respondents given average UK house price
sourced from Halifax HPI]
80
Rent outlook – balance of % higher minus % lower (+)
+64
60
+40
+56
+56
+33
40
+15
20
+20
+9
House Price Outlook –
balance of % higher
minus % lower (+)
0
-20
Apr-11
Oct-11
Jan-12
Mar-12
Jun-12
Base: 1,000-2,000 British adults 16+ (c400 PRS)
© Ipsos MORI
Version 1 | Public
Oct-12
Dec-12
Mar-13
Jun-13
Sep-13
Source: Halifax/Ipsos MORI
Housing Market Confidence Tracker

5. “The nearest the British have to a religion”?
5
Q. If you had a free choice, would you choose to rent accommodation, or would
you choose to buy? % Buy
95%
90%
85%
80%
75%
Source: Ipsos MORI analysis of British Social
Attitudes Survey data
Pre war
Baby boomers
Gen X
Gen Y
Overall
70%
96
© Ipsos MORI
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97
98
99
00
01
02
03
04
05
06
07
08
09
10

6. For most, renting isn’t a tenure of choice
6
Q. If you were told that you had to rent, rather than buy, a house or flat for the rest of
your life, how would this make you feel?
57% of non-homeowners…A similar
proportion believe that people can never
feel fully settled in rented property.
61%
Unhappy
47% think it is important for parents to
bring up children in a home that they
own, not rent.
Neither
19%
Over half (52%) predict that Britain will
become a nation of renters within the
next generation.
13%
Happy
Source: ComRes for BBC (2,009 18-29s,19-20 June 2013)
Source: Halifax, Generation Rent: A Society Divided?
© Ipsos MORI
Version 1 | Public

7. Responsibility: it’s the market, stupid?
7
Q. Who or what do you think is most responsible for young people finding it difficult
to get onto the property ladder?
Size of deposits required
35%
Property prices
33%
The Government
11%
The banks
11%
Older generations for pricing young
people out of the market
I do not hold anyone responsible for
the difficulty of getting on property…
Yound people themselves
3%
3%
3%
Base: All non-owning/mortgaged 18-29 year olds who think getting on the property ladder is difficult
(1,748), GB, 20-27 March 2013
© Ipsos MORI
Version 1 | Public
Source: ComRes/BBC

8. ‘The fourth tenure’?
8
Q. Would you consider buying a part share in a home…?
% Don’t Know
% No
.,.whilst a government-backed
scheme helped you buy the
remaining share (shared
ownership)?
…with the assistance of a
government-backed
repayable low-interest or
no-interest loan (shared
equity)?
…with financial help from
a private developer shared
ownership or shared
equity product?
32%
27%
% Yes
24%
36%
39%
46%
29%
27%
40%
Base: All potential consumers (3,365)
Source: HCA Consumer demand and attitudes in the intermediate market (Ipsos MORI 2010)
© Ipsos MORI
Version 1 | Public

9. Scope to build awareness
9
Q. Which of the following, if any, best describes your attitude towards intermediate
market housing?
I am interested in buying or renting
an intermediate market home and
have already applied
1%
I don’t know enough
about intermediate
housing to know if I am
interested or not
21%
53%
24%
I am interested in buying
or renting an intermediate
market home but have
NOT applied
I am NOT interested in
buying or renting an
intermediate market home
Base: All potential consumers (3,365)
Source: HCA Consumer demand and attitudes in the intermediate market (Ipsos MORI 2010)
© Ipsos MORI
Version 1 | Public

10. Multiple barriers but info & eligibility key
Q. Which, if any, of these do you think are barriers to buying a home through a shared
ownership scheme?
23%
Don't think I am eligible because of income
18%
16%
Want to buy without funding from anyone
Want more choice in type of property
14%
Too difficult to sell on
Too difficult to arrange mortgage for these schemes
12%
Couldn't buy in location I wanted to
12%
9%
Don't think I am eligible because of my job
6%
Don't want to go through application process
Rules/conditions make it difficult to increase share/sublet etc
4%
Don't have enough information to know
24%
None/there are no barriers
Other
Base: 591 private renters 16+, 11-24 November 2011
13%
3%
Source: Ipsos MORI for Catalyst Housing

11. Thank you!
@BenM_IM
#sharedownership