Will a new government make home ownership more achievable for young people?

Latest data reveals that it is harder than ever to get on the property ladder.

Transcript

00:00People in the UK face significant hurdles in getting on the property ladder,

00:06with home ownership for 25 to 29 year olds halving over the past 25 years.

00:12Many rely on financial support from their parents,

00:15with over a third of first-time buyers receiving help from family,

00:19to just 20% seven years ago.

00:22The affordability crisis has led to a rise in shared ownership and other government schemes,

00:29but those often fall short of addressing the core issue of high property prices

00:34and insufficient housing supply.

00:36In the upcoming general election,

00:38all major political parties recognise the need to address the housing market challenges.

00:43They agree on the importance of improving access to home ownership.

00:47Promises include building more affordable homes,

00:50reforming planning laws and providing financial assistance to first-time buyers.

00:55And despite these approaches,

00:57there is a consensus that significant action is required

01:01to make home ownership achievable for young people.