ROOF Blog

The era in which all Britons aspire to own their own home may be coming to an end, according to the Housing minister, John Healey.

In a controversial speech, he suggested that Britain may be moving towards a European model, with renting on a roughly equal footing with buying.

He said home ownership had fallen from 71 per cent of households in 2003 to 68 per cent today, noting that this trend began in 2005, well before the recession.

A new model with greater flexibility is needed, he argued, allowing people to change from buying to renting without moving home.

‘Not all or nothing, but a flexible system which suits the different stages in people’s lives,’ he said.