Living Loners will increase UK housing demand
Demand for new housing is reported to rise over the next twenty years, primarily due to the increasing number of people living alone.
The new Alliance & Leicester Mortgages' Changing UK Household Market reports has indicated that the number of UK households will increase by over 200,000 per year until until 2026, mainly driven by the predicted 53% rise in "living loners".
Stephen Leonard, director of mortgages at the Alliance & Leicester, said: "Our Changing UK Household Market report shows the demand for housing will increase over the next 20 years.
"Interestingly, the pressure will come from the changing make-up of households, as we see more people living on their own, and the concept of the traditional family home steadily being eroded."
The "living loners" trend can be attributed to higher percentages of divorce rates and also because people are getting married later in life.
In the meantime, the communities and local government committee has announced that government proposals to provide 200,000 new homes each year may not meet the requirements for affordable housing.
Date: Wednesday 20th December, 2006
