@BenM_IM
#sharedownership
“You can just about afford to rent so
what makes you think you can afford
to buy a house…”
“I think there’s a lot of mis-information
[about shared ownership] because
where do you hear about details and
stuff like that? I just heard of it years
ago, I just thought it’s for nurses…”
“It’s like when it says on the news the
average person buying a house in
London is in his 40s, so that don’t
give no hope for young people or
anyone really.””
Version 1 | Public © Ipsos MORI
24%
42%
30%
35%
16%
31%
29%
31%
36%
31%
30%
30%
49%
54%
47%
46%
57%
38%
33%
47%
57%
35%
A third or less (excluding nothing) More than a third
18-24
25-34
35-54
55-64
65+
Owned with mortgage
LA rented
HA rented
Private rented / other
Owners
Social rented (LA & HA)
Age group
Tenure
Q Approximately, what proportion of your total household income AFTER tax and national
insurance contributions, do you pay in mortgage payments or rent (excluding utility bills and
council tax). Would you say it is….?
Base: 697 GB adults excluding those who own outright, 25 October-27 October 2013
Young/renters squeezed most by housing costs 2
Source: Ipsos MORI/Panorama
Version 1 | Public © Ipsos MORI
27
18
11 14
22
11 13 11 11
‘Debt peril’ – some low tipping points
Q. Thinking about the total amount of outgoings your household has – that is the amount your household spends to cover living costs and bills – what is the lowest this would have to increase for you for start to find it difficult to afford?
Social renters Private renters Owner
occupiers
Base: 2,016 GB adults 16-75, March 2013 (313 social renters, 289 private renters and
1,384 owner/occupiers) Source: Ipsos MORI for Halifax
% By £24 or less per month
% By £25-£49 per month
% By £50-£74 per month
3
Version 1 | Public © Ipsos MORI
+9 +15
+20
+33
+40
+64
-20
0
20
40
60
80
Apr-11 Oct-11 Jan-12 Mar-12 Jun-12 Oct-12 Dec-12 Mar-13 Jun-13 Sep-13
House Price Outlook –
balance of % higher
minus % lower (+)
Q. Do you think the average property price in the UK will be higher or lower in 12
months time or will it be the same? [respondents given average UK house price
sourced from Halifax HPI]
Source: Halifax/Ipsos MORI Housing Market Confidence Tracker
Base: 1,000-2,000 British adults 16+ (c400 PRS)
“Momentum behaviour”: house price/rent expectations 4
Rent outlook – balance of % higher minus % lower (+)
+56 +56
Version 1 | Public © Ipsos MORI
70%
75%
80%
85%
90%
95%
96 97 98 99 00 01 02 03 04 05 06 07 08 09 10
Pre war Baby boomers Gen X Gen Y Overall
Q. If you had a free choice, would you choose to rent accommodation, or would
you choose to buy? % Buy
“The nearest the British have to a religion”? 5
Source: Ipsos MORI analysis of British Social Attitudes Survey data
Version 1 | Public © Ipsos MORI
For most, renting isn’t a tenure of choice
Q.
6
57% of non-homeowners…A similar
proportion believe that people can never
feel fully settled in rented property.
47% think it is important for parents to
bring up children in a home that they
own, not rent.
61%
Unhappy
Neither 19%
13%
Happy
Q. If you were told that you had to rent, rather than buy, a house or flat for the rest of
your life, how would this make you feel?
Source: ComRes for BBC (2,009 18-29s,19-20 June 2013)
Source: Halifax, Generation Rent: A Society Divided?
Over half (52%) predict that Britain will
become a nation of renters within the
next generation.
Version 1 | Public © Ipsos MORI
35%
33%
11%
11%
3%
3%
3%
Size of deposits required
Property prices
The Government
The banks
Older generations for pricing youngpeople out of the market
I do not hold anyone responsible forthe difficulty of getting on property…
Yound people themselves
Responsibility: it’s the market, stupid?
Base: All non-owning/mortgaged 18-29 year olds who think getting on the property ladder is difficult
(1,748), GB, 20-27 March 2013 Source: ComRes/BBC
Q. Who or what do you think is most responsible for young people finding it difficult
to get onto the property ladder?
7
Version 1 | Public © Ipsos MORI
‘The fourth tenure’?
% No % Don’t Know % Yes
.,.whilst a government-backed
scheme helped you buy the
remaining share (shared
ownership)?
39%
29%
32%
…with financial help from
a private developer shared
ownership or shared
equity product?
24%
40%
36%
…with the assistance of a
government-backed
repayable low-interest or
no-interest loan (shared
equity)?
46%
27%
27%
Q. Would you consider buying a part share in a home…?
Base: All potential consumers (3,365)
Source: HCA Consumer demand and attitudes in the intermediate market (Ipsos MORI 2010)
8
Version 1 | Public © Ipsos MORI
1%21%
24%
53%
Scope to build awareness
I am interested in buying or renting an intermediate market home and
have already applied
I don’t know enough about intermediate
housing to know if I am interested or not
Q. Which of the following, if any, best describes your attitude towards intermediate
market housing?
I am interested in buying or renting an intermediate
market home but have NOT applied
I am NOT interested in buying or renting an
intermediate market home
Base: All potential consumers (3,365)
Source: HCA Consumer demand and attitudes in the intermediate market (Ipsos MORI 2010)
9
23%
18%
16%
14%
12%
12%
9%
6%
4%
24%
13%
3%
Multiple barriers but info & eligibility key
Q. Which, if any, of these do you think are barriers to buying a home through a shared ownership scheme?
Don't think I am eligible because of income
Want to buy without funding from anyone
Want more choice in type of property
Too difficult to sell on
Too difficult to arrange mortgage for these schemes
Couldn't buy in location I wanted to
Don't think I am eligible because of my job
Don't want to go through application process
Rules/conditions make it difficult to increase share/sublet etc
Don't have enough information to know
None/there are no barriers
Other
Base: 591 private renters 16+, 11-24 November 2011 Source: Ipsos MORI for Catalyst Housing
@BenM_IM
#sharedownership
Thank you!
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