On the ladder: Helping those without generational wealth become homeowners

Homeownership remains a fundamental ambition for people in Britain. It has long been a route to lower housing costs, greater financial security, increased wealth, and higher wellbeing.

However, the dream of homeownership is now being realised later in life – if at all. Across every age group, a smaller proportion of people today own their home than at the start of this millennium. The result is growing inequality. Homeownership has become increasingly dependent on luck or the ability of parents and relatives to provide financial support. As a result, many young people are now stuck renting privately or living with their parents.

In this report, Ben Cooper and Palma Oxley analyse the scale of the decline in homeownership among young people, its causes, and its impact on new-build housing supply. They set out a series of recommendations to help more people afford their first home, reduce the costs of homeownership, and improve consumer outcomes for those buying a new-build property.