House ownership desire is down Monday, 5th October 2009

According to the National Association of Estate Agents (NAEA), more than one in four adults in some British cities no longer have any desire to own their own home,

Thousands of adults have given up on owning a home as the recession, coupled with high house prices and a lack of mortgage lending mean that across swathes of British cities, have turned them off the idea.

The survey show that inn Cardiff, 30% of adults no longer wish to own property, compared to 27.7% in Manchester and 25% in both Brighton and Belfast.

However this is not the case in every city. Just 10% of adults in Southampton said that they did not want to own property, while 11% per cent of Londoners agreed. Nationally, 16% of adults say that they have no desire to own a property.

Although tne reasons are as above the Government has so far not created a good climate for house hunters. In addition the major lenders are not doing enough to help responsible people borrow appropriately to finance house purchasing.