Link between home ownership and life expectancy revealed

Wednesday 19th October 2016

If you own your own home you are likely to live longer, according to the latest research from the HomeOwners Alliance.
Throughout most of the UK there is a direct link between home ownership levels and life expectancy, the analysis revealed. Where home ownership levels are higher, so is life expectancy. 
Despite this, home ownership levels have been falling for the past ten years or so. They peaked in 2002, standing at 69.7%, but in 2016 the percentage of homeowners is now only 63.8%. 
At the same time, very high demand for homes is pushing house prices up to unaffordable levels for many. 
The underlying cause of the housing crisis is widely known and agreed upon by all – Britain simply isn't building enough new homes (and hasn't been for decades). Experts, political parties and the government, however, differ in opinion on how to go about solving this issue.
 The HomeOwners Alliance believes the fall in home ownership is having, and will continue to have, “profound, long-lasting and adverse economic and social consequences”.
They say it increases poverty among pensioners and social problems in children living in insecure rented accommodation, while also reducing the living standards of lower and middle income earners. 
It also, they believe, increases inequality, pushes up the housing benefit bill and, as the above research shows, reduces life expectancy. 
The only exception to the rule – with no correlation between home ownership and life expectancy – is London, where home ownership levels and life expectancy are not strongly linked.
“Reversing the decline in homeownership should be one of the government’s highest priorities,” Paula Higgins, CEO of HomeOwners Alliance, commented. “We know that homeownership in this country has tangible benefits – including longer and happier lives. But the high costs mean it is out of reach for more and more people – widening the gap between the rich and the poor and fuelling social inequality.” 
She added: “The UK urgently needs a functioning and stable housing market as the current housing situation is deeply unfair.”

comments powered by Disqus
Premium Articles
Sign up
Live Chat