Number of mortgage-free households on the rise
More properties were owned outright rather than being secured with a mortgage for the first-time in 2013-2014, according to the latest English Housing Survey.
Out of the estimated 22.6 million households in England, 63% or 14.3 million were owner occupiers, of which 33% (7.4 million) owned the property outright. A lower 31% or 6.9 million have a property with a mortgage.
The report highlighted that average weekly private rents were £281 in London and £145 outside of London.
In 2008-09, 19% of social housing renters in work received Housing Benefit, increasing to 32% in 2013-14. For working households in the private rented sector the proportion increased from 7% to 14% over the same period.
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