Home Ownership Statistics for the UK
Community
30 Sep 2024
Owning your own home is something that brings a tangible sense of accomplishment and stability to your life. It provides you with a space that’s truly your own, reflecting your identity, bringing you security and warmth, as well as offering you the perfect environment in which to enjoy some of life’s most precious moments and milestones.
Here, we reveal all the latest housing market facts, figures, and data for 2024, including how many UK adults own their own home, which parts of the UK are most sought-after amongst prospective buyers and what factors are most important to those looking to buy a house.
So, let’s dive in!
Unlocking insights: UK Home Ownership and Mortgage Statistics - Key Facts of 2024
Buying a house often requires patience, but luckily, reading this article doesn’t! Here’s a quick summary of our key findings:
- As of July 2024, 53% of UK adults own their own home, compared to 50% in 2023.
- 28% of Brits own their home outright, whilst 25% have a mortgage.
- The condition and age of a house is the most important determining factor for those thinking of buying a home in the UK, followed by the area’s crime rates and local amenities.
- The most sought-after UK cities when it comes to home ownership are Glasgow, Edinburgh and Sheffield, with those three cities being Googled more than any other city in the UK when included in the phrasing, ‘homes for sale in X’.
- Northern Ireland has more homeowners than any other region in the UK, with 63% of the region's population owning their own homes compared to the national average of 54%.
- People in Northern Ireland are also the most likely to own their home with a mortgage (42%).
- Whereas 29% of homeowners in Yorkshire & The Humber own their home outright; the most of any region in the UK.
- As of June 2024, the average house price in the UK was £288,000.
- Average house prices in England are higher than any other part of the UK, sitting at just over £305,000.
- Conversely, the cheapest place to buy a house in the UK is Northern Ireland, with an average house price of just £185,000.
- More than 1 in 5 young people who’ve purchased a home in the last 5 years say they’d be willing to stretch their budgets to secure a home they love.
How many people own their own home? And what’s the percentage of homeowners in the UK?
Buying a house can be a complex and lengthy process, but just how many UK adults own their own home? And how many are in different living situations such as renting, living with family or in social or sheltered housing?
To find out, we surveyed a demographically representative sample of 2,001 UK adults in July 2024 using the market research company Censuswide. We asked participants which of the following living arrangements currently apply to them:
- A home that I/we bought outright
- Private rental accommodation
- A home that I/we own with a mortgage using a deposit that I/we saved for
- Social housing such as council house
- I/We live with my family
- A home that I/we own with a mortgage – bought through a scheme for first time buyers
- A home that I/we own with a mortgage – deposit was gifted from family
- A home I/we inherited
- A home that I/we bought through a shared ownership scheme
- A home that I/we bought through a different scheme
- Sheltered housing
- None of the above
Our survey revealed:
- As of July 2024, 53% of UK adults own their own home. That’s the equivalent of 27.9 million people across the country*.
- This is an increase of 3% compared to 2023, when 50% of UK adults owned their home.
- However, comparing this with previous housing market data, we can see that home ownership rates have decreased considerably over the last few years. In fact, in the two years from 2016 to 2018, 63% owned their own homes.
How many people have mortgages in the UK?
The data also revealed that:
- 28% of Brits own their home outright.
- Whilst 25% have a mortgage
- Our survey also found that 13% of UK adults live in social housing such as a council house, down from 20% in 2023.
- And another 15% rent privately.
- The percentage of people living with their parents/family varies significantly by age. The table below shows each age group and the percentage of people in the UK within these age categories who live with their parents.
| Percentage of UK adults who live with family | ||
| Age Group | 2023 | 2024 |
18-24 | 19% | 33% |
25-34 | 7% | 15% |
35-44 | 5% | 10% |
45-54 | 2% | 6% |
55+ | 2% | 1% |
As you can see:
- The most likely adult age group to live with family is those aged 18-24, as almost 1 in 3 of young adults in this age group say this is their current living arrangement (33%).
- This is a huge increase from 2023, when just under 1 in 5 young adults lived with family (19%)
- The proportion of people living with family then reduces as we age. 15% of 25–34-year-olds, 10% of 35-44-year-olds and just 6% of those aged 45-54 stating that this is their living situation at present.
- And 1% of UK adults are currently living in sheltered accommodation.
*To calculate the number of adults in the UK, we obtained general population data from the Office for National Statistics. This gave us the most up-to-date figure for the UK population (66,796,807). We then subtracted the number of under 18s in the UK from this figure, which gave us the total adult population. Using this, we could then extrapolate the findings of our survey to present them as a proportion of the population.
What are the most important factors people consider when buying a home?
So for those who are thinking about buying a home, which factors are most important to them? Is it the age and condition of the house? Local amenities? Room sizes? Energy efficiency? Or something else entirely?
To find out, our 2023 survey asked participants:
‘Imagine you're looking to buy a new house. What factor, if any, is most important to you?’ (Select one)
- Age of the house/current condition
- Crime rates
- Local amenities
- N/A - no factor is most important to me
- Parking
- Not sure
- Garden size
- Energy efficiency rating
- Transport links
- Kitchen size
- Living room size
- Falls within good schools catchment area
- Other, please specify
Our survey found that:
- The condition and age of a house is the most important determining factor for those thinking of buying a home in the UK, as 6% chose this option.
- The second most important consideration is the area's crime rates, with 55% of respondents stating that the level of crime in an area is a crucial factor for them.
- Local amenities (9.65%), parking (8.05%), garden size (7.6%) and energy efficiency (7.45%) are also some of the most important factors people consider when buying a home in 2023.
Which towns and cities have the highest demand amongst prospective home buyers?
Our survey found that factors that vary depending on location, such as crime rates, local amenities, and transport links, are really important in the eyes of prospective home buyers. So which areas in the UK have the most appeal in 2024?
To find out, we used the tool Ahrefs to analyse Google search volumes for the term ‘Homes for sale in X’ with X being each major town and city in the UK with a population of 100,000 or more.
Our analysis found that as of August 2024:
- The most in-demand UK cities when it comes to home ownership are Glasgow, Edinburgh and Sheffield with each variant of ‘Homes for sale in X’ receiving more than 7500 searches per month.
- Swansea and Leicester are also amongst the most sought-after locations when it comes to buying a house, with 7200 and 6900 searches being conducted for houses in these areas, respectively.
- Stoke-on-Trent, Liverpool and London are also amongst the top 10 most searched-for cities, clearly demonstrating high demand amongst prospective home buyers.
| Rank | Keyword | Average monthly UK Search Volume | Average monthly searches per 100,000 UK people |
1 | houses for sale glasgow | 9100 | 17.2 |
2 | houses for sale edinburgh | 7800 | 14.8 |
3 | houses for sale sheffield | 7600 | 14.4 |
4 | houses for sale swansea | 7200 | 13.6 |
5 | houses for sale leicester | 6900 | 13.1 |
6 | houses for sale stoke on trent | 6400 | 12.1 |
7 | houses for sale bradford | 6300 | 11.9 |
8 | houses for sale birmingham | 5800 | 11.0 |
9 | houses for sale liverpool | 5300 | 10.0 |
10 | houses for sale london | 5200 | 9.9 |
11 | houses for sale bristol | 4600 | 8.7 |
12 | houses for sale doncaster | 4500 | 8.5 |
13 | houses for sale coventry | 4500 | 8.5 |
14 | houses for sale bolton | 4300 | 8.2 |
15 | houses for sale swindon | 4100 | 7.8 |
16 | houses for sale wolverhampton | 4000 | 7.6 |
17 | houses for sale blackburn | 4000 | 7.6 |
18 | houses for sale manchester | 3800 | 7.2 |
19 | houses for sale newcastle | 3400 | 6.4 |
20 | houses for sale dundee | 2600 | 4.9 |
Methodology: To find out what proportion of people search for homes for sale in each city, we divided the average monthly search volume for the term ‘Homes for sale in X’ (with X being each major town and city in the UK) by the adult population of the UK. This gave us an average number of monthly searches per person, which we then multiplied by 100,000 to find out the average monthly search volume per 100,000 people.
What’s the average age of a homeowner in the UK?
How many young people own their own home in the UK? And how does this compare with home ownership rates across older generations?
To find out, we asked participants to disclose their age when answering questions about their current living situations. The results revealed that:
- By far and away, the age group most likely to own their own home is those aged 55+, with nearly two-thirds (65.3%) stating they own their own home.
- The second most likely age group to own a home in 2024 is those aged 45-54, with 5% being homeowners.
- As you might expect, the age group least likely to own their own home is 18–24-year-olds, with just 35.4% stating they own their own home in 2024.
Age and home ownership type - mortgage vs owning outright
Now we know the latest figures on home ownership and age in the UK overall. But what proportion of said homeowners own their houses outright? And how many need a mortgage?
Our findings revealed:
- The most likely age group to own a home outright is those aged 55 and over (43.6%), followed by 45–54-year-olds (15.7%).
- Perhaps surprisingly, our research also found that 25–34-year-olds are slightly more likely to own their own home than those in the 35-44 age category (9% and 8%, respectively).
- The age group most likely to need a mortgage to own a home were those aged 35-44 (33.6%), followed by 45–54-year-olds (31.5%) and those aged 25-34 (27.1%).
Home ownership rates by UK region
We all know that there are some significant regional differences across the UK when it comes to things like income, cost of living and house prices. For instance, homes for sale in areas with a higher cost of living, such as London, tend to cost a lot more than those in areas where it’s cheaper to live, such as Yorkshire.
But how does location affect peoples’ likelihood of owning their own home? And which region of the UK has the highest percentage of people who own their home outright (as opposed to needing a mortgage)? Our survey found:
- More people in Northern Ireland own their own home than any other UK region, as 63% of Northern Irelanders do so, compared to the national average of 54%.
- This is followed by the South East, where 59% of people own their own home.
- The North East, Scotland and the East Midlands also have some of the highest home ownership rates in 2024.
- Perhaps unsurprisingly, people in Greater London are least likely to own their own home, as just 48% of people in this region are homeowners.
- Those in the West Midlands and Wales are also some of the least likely to own their own homes, with home ownership rates that fall below the national average.
| Region | Percentage of population who own their own home |
Northern Ireland | 63% |
South East | 59% |
North East | 58% |
Scotland | 56% |
East Midlands | 55% |
North West | 54% |
East of England | 53% |
South West | 51% |
Yorkshire & The Humber | 51% |
Wales | 49% |
West Midlands | 48% |
Greater London | 48% |
Our survey also revealed the proportion of homeowners who own outright versus those who have a mortgage:
- By far and away, people in Northern Ireland are the most likely to need a mortgage to own their own home (42%). Of all UK regions, Northern Ireland has the most significant contrast between those who own a home outright and those who do so with a mortgage, with the percentage of those in Northern Ireland owning outright being less than any other part of the UK, sitting at just 15%.
- Londoners are also some of the least likely to own their home outright, with 16% stating that they do so. They’re also some of the least likely to own with a mortgage, as just 11% currently have one.
- In contrast, people in Yorkshire & The Humber are most likely to own their own home outright, with just under a third of the population stating that they fully own their homes (29%).
- Those living in the West Midlands and the South East regions of the UK are also among some of the most likely to own their homes outright, with 27% and 26% respectively of people in these regions stating that this is the case for them.
Average house prices in the UK in 2024
So now we know which age groups and regions are most likely to own a home, and which parts of the UK are most desirable amongst prospective buyers, as well as what attributes people look for when buying a new home. But how about those all-important house prices?
To find out, we looked at the Office for National Statistics’ most recent UK House Price Index report which revealed that:
- Average UK house prices increased by 2.7% in the 12 months leading up to June 2024.
- In June 2024, the average house price in the UK was £288,000, £8,000 more than 12 months before.
- The region with the biggest house price change in the 12 months leading up to June was Scotland, where they increased by 4.3%.
- As of June 2024, average house prices in the United Kingdom were as follows:
| Country | Average House Price (June 2024) | Percentage Change (from June 2023) |
England |
£305,370 |
+2.4% |
Wales |
£215,518 |
+1.8% |
Scotland |
£192,488 |
+4.3% |
Northern Ireland* |
£185,025 |
+6.4% |
As you can see from the table:
- Average house prices in England are higher than any other part of the UK, sitting at £305,370.
- Wales’ average house price is significantly lower at £215,518.
- Lower still, are Scotland’s house prices, averaging at £192,418.
- And the cheapest place to buy a house in the UK is officially Northern Ireland, with an average house price of just £185,025.
*Percentage change data for Northern Ireland relates to the year to Quarter 2 of 2024.
Viewing a house statistics: What’s most important for prospective home buyers?
Let’s say you’ve found the home that’s perfect on paper – a great location, good size and within your price range. Now it’s time to view! But when it comes to viewing a home, first impressions are crucial.
To find out more about what’s most important when viewing a house, we surveyed a demographically representative sample of 2,005 UK adults who’ve bought a house in the past five years to ask about their experiences. In May 2024, we used the market research company Censuswide. We asked the following question:
How important, if at all, is the kerb appeal* of a potential new home to you?
- Very important - first impressions matter
- Somewhat important - it influences my perception of the home
- Not very important – it’s a consideration but not crucial
- Not important at all – I’m more concerned about the interior
*‘Kerb appeal’ means a house that looks attractive from the outside, for example one with an attractive exterior design and a well-maintained roof, windows, front garden and pathways.
- 88% of UK adults who’ve purchased a house in the last 5 years feel that kerb appeal is important, with 39% deeming it very important.
- Overall, just under half of participants feel the exterior of the house was somewhat important (49%).
- Whilst only 2% find it not important at all and are more concerned about the interior of the house.
Kerb appeal importance by demographic
How does this compare when breaking down the data by region, city or gender?
- In terms of regions, the North East of England place the most importance on the exterior looks of the house they want to buy (92%), while Scotland are the least concerned by this (82%).
- When it comes to cities, 94% of adults in Sheffield consider kerb appeal important, compared to just 73% in Plymouth and 89% in London.
- Plymouth is also the city where the most participants feel the exterior of the house is not important at all (5%).
- 89% of males taking the survey found kerb appeal important compared to 86% of female participants.
Financial considerations: How likely are UK adults to stretch their budget to buy their dream home?
Buying a house isn’t something you do every day - well, for most of us that is! It’s something that we think long and hard about, assessing all relevant factors, particularly financial ones. But how much time and consideration do prospective homeowners in 2024 put into the decision-making process?
To find out, we asked the same sample:
Please choose one answer from the list below that best describes how you approach buying a house
- I take my time to research thoroughly before making a decision
- I’m willing to wait for the right deal and market conditions
- How quickly I buy a home depends on my personal or family circumstances
- I’m ready to move as quickly as possible if I find the right home and fall in love with it, even if it means stretching finances
- None of the above
The findings revealed:
- Over a third of UK adults are willing to take their time researching thoroughly before making a decision on their house (38%).
- 23% will wait for the right deal and market conditions to ensure they get the most for their money.
- Only 17% will go as far as to stretch their finances to move in as quickly as possible into their new home.
Taking finances into account when buying a home by demographic
Do these statistics differ when looking at age, city or region?
- Young people (aged 18-24) are the most likely to be willing to stretch their finances and move houses quickly (21%). That’s more than 1 in 5.
- By contrast, participants aged 55 years and over are most likely to take their time and do thorough research before deciding on a home (43%).
- Adults in Belfast are by far those most likely to take into consideration their personal or family circumstances before moving (36%), with Plymouth coming in second at 30%.
- Over half of adults in Southampton would take their time to research (51%), while a quarter of those in Sheffield would be willing to stretch their finances to sign the dotted line on their new house (25%).
- Meanwhile, 27% of adults in Wales would be willing to wait for the right deal and market conditions, compared to just 19% in Scotland.
Home Ownership Statistics for the UK in 2024
We hope you’ve found our home ownership statistics, facts and figures to be of interest! If you’d like any more information about our study or any of the above statistics, please let us know.
If you’re currently thinking about buying a new home in the UK, head over to our website to browse our range of new build homes for sale.
And while you’re here, why not take our ‘What type of house buyer are you?’ quiz?
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