40+ Home Ownership Statistics for the UK in 2024
Community
06 Feb 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!
Buying a house often requires patience, but luckily, reading this article doesn’t! Here’s a quick summary of our key findings:
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 2,000 UK adults in July 2023 using the market research company Censuswide. We asked participants which of the following living arrangements currently apply to them:
Our survey revealed:
Age group |
Percentage who live with family |
18-24 |
19% |
25-34 |
7% |
35-44 |
5% |
45-53 |
2% |
55+ |
2% |
*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.
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, we also asked participants:
‘Imagine you're looking to buy a new house. What factor, if any, is most important to you?’ (Select one)
As you can see from the chart below:
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 Keyword Finder 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 January 2024:
Rank |
Keyword |
Avg. Search Volume (Last 12 months) |
Average monthly searches per 100,000 people |
1 |
Houses for sale Birmingham |
29,100 |
53 |
2 |
Houses for sale Glasgow |
26,300 |
48 |
3 |
Houses for sale Sheffield |
26,200 |
48 |
4 |
Houses for sale London |
25,000 |
46 |
5 |
Houses for sale Edinburgh |
23,900 |
44 |
6 |
Houses for sale Leicester |
23,800 |
44 |
7 |
Houses for sale Bradford |
21,500 |
39 |
8 |
Houses for sale Swansea |
21,500 |
39 |
9 |
Houses for sale Coventry |
20,900 |
38 |
10 |
Houses for sale Blackburn |
20,100 |
37 |
11 |
Houses for sale Stoke-on-Trent |
20,100 |
37 |
12 |
Houses for sale Liverpool |
19,800 |
36 |
13 |
Houses for sale Manchester |
19,400 |
36 |
14 |
Houses for sale Swindon |
18,100 |
33 |
15 |
Houses for sale Bristol |
17,800 |
33 |
16 |
Houses for sale Doncaster |
17,800 |
33 |
17 |
Houses for sale Bolton |
16,400 |
30 |
18 |
Houses for sale Wolverhmpton |
16,400 |
30 |
19 |
Houses for sale Newcastle-Upon-Tyne |
16,400 |
30 |
20 |
Houses for sale Dundee |
15,400 |
28 |
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.
How many young people own their own home in the UK? And how does this compare with homeownership 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:
Now we know the latest figures on homeownership 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:
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:
Region |
Percentage of population who own their own home |
Northern Ireland |
57% |
Wales |
56% |
South West |
55% |
East of England |
55% |
North West |
54% |
North East |
52% |
Yorkshire and the Humber |
52% |
East Midlands |
51% |
South East |
51% |
Scotland |
49% |
West Midlands |
48% |
Greater London |
36% |
Our survey also revealed the proportion of homeowners who own outright versus those who have a mortgage. As you can see from the graph below:
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:
Country |
Average house price (October, 2023) |
Percentage increase (from October, 2022) |
England |
£306,000 |
-1.4% |
Wales |
£214,000 |
-3%% |
Scotland |
£191,000 |
+0.2% |
Northern Ireland* |
£180,000 |
+2.1% |
*Percentage change data for Northern Ireland relates to the year to Quarter 3 (July to Sept) 2023.
We hope you’ve found our homeownership 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.
And 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 or check out our First Homes scheme to find out how we can help you take your first steps onto the property ladder.
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40+ Home Ownership Statistics for the UK in 2024