13 Feb

Owner-occupied properties 'decrease'

Owner-occupied properties 'decrease'

In 2007, the amount of owner-occupied households dropped in comparison to the year before, according to new figures released by the Halifax Bank of Scotland.

During the year, the number of these owners fell from 14.621 million to 14.538 million, the organisation stated.

Such a drop was the biggest ever recorded, it added, while the proportion of renting households rose to by 4.3 per cent to stand at 2.6 million, Halifax added.

Chief economist at the bank Martin Ellis noted that the trends indicate that affordability for consumers has diminished recently.

"The fall in the total number of owner-occupied households in England in 2007 largely reflects the increasing affordability difficulties faced by many potential purchasers as a result of the rapid rise in house prices in recent years," he commented.

In related news, the chairman of the National Landlords Association, David Salisbury, said this week that landlords are still optimistic about the current state of the market.ADNFCR-1222-ID-18466269-ADNFCR

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