@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

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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

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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!