Homeowners 2021

This mini report looks at individuals who own their own homes, either outright or with a mortgage. The aim of the report is to identify who homeowners are, how outright owners differ from those owning with a mortgage and the recent housing and mortgage market activity of the two groups.

Report Highlights

Homeowners split into outright owners who own their homes without a mortgage and those buying their home with a mortgage (mortgagees).  Compared with outright owners, those buying with a mortgage are more likely to be female, below the age of 54, more affluent in terms of social grade and gross household income, in a partnered relationship, and a first-time buyer when they purchased their home

Around three-quarters of all homeowners who purchased their homes between 2016 and 2021 are mortgagees, with two-thirds of those buying their home with a mortgage having purchased their current home in the past five years compared with only around one-in-five outright owners. The year of purchasing their homes means just over one-quarter of mortgagees purchased their current homes during 2020/21, the period when COVID was impacting the housing market and 30% of all homeowners have been impacted by COVID.

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