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That needs some unpacking before it becomes meaningful.
Is that 15% of properties? Or 15% of privately owned residential properties?
hugo7-
I agree. It was reported on the BBC website and I tried to look into it but couldn't untangle the stats.
The article was going on about people but couldn't imagine only 15% of people in London living in a house with no mortgage. If even vaguely true there's a lot of houses that are owned outright which surprised me.
I just assumed most people had a mortgage then died....
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Of all properties.
It’s in the 2021 census.
Eg in Hackney 28% are owner occupiers (16% mortgaged 12% owned outright), 31% private rented, 41% social rented.
For England it’s 63%/19%/17%, so London is nowhere near representative of the national picture.
Overall there are 6.8 million people with a mortgage on the house they live in and they’ll all see significant rises either now or when their fixed rate ends.
Average energy bills went up £150 a month and the government stepped in so we didn’t riot. The average mortgage is £137k, so if we say we’re going to see average rates go from 2.5% to 6% that’s a £400 a month rise on average.
Rents will go up too.
midlife
Hefty
Was reading about mortgages and found that only 15% of properties in London have a mortgage. Posted on the car thread
https://www.lfgss.com/conversations/140329/?offset=72675#comment16724011
Post 72681
Like yourself the stats seem pretty muddled. Can't see riots in the streets of London if correct.