U
K
H
R
2
0
1
5
United Kingdom Housing Review
U
K
H
R
2
0
1
5
• 23rd Edition
• 122 UK, 4 Country & Regional Tables
(almost a third with Welsh content)
• Commentaries & Analysis
– including Divided Generations
U
K
H
R
2
0
1
5
Divided Nations and Divided Generations
• Divided Nations:
- Divided Incomes
- Divided Wealth
- Impact Tax & Welfare reforms
• Divided Generations:
- Property wealth & Taxation
- Owning & Renting
U
K
H
R
2
0
1
5
700
600
£ per week
U
K
H
R
Incomes in Wales among the lowest in the UK
500
400
300
200
100
0
2
0
1
5
Lower Quartile
Median
Sources: ASHE 2014 Full time earnings, ONS
1,200
1,000
£ per week
U
K
H
R
Income differentials slightly lower in Wales
800
600
400
2
0
1
5
200
0
England
Scotland
Lowest Deciler Quartile
Highest Decile
Sources: ASHE 2014 Full time earnings, ONS
Wales
100%
90%
£ per week
U
K
H
R
Property wealth more polarised than Incomes
80%
70%
60%
50%
40%
30%
2
0
1
5
20%
10%
0%
Q1
None
< £125k
Q2
£125k - £250k
Q3
Q4
£250k - £500k
Q5
£550k plus
Sources: Wealth and Assets Survey 2010-2012, ONS
300
250
£ 000’s
U
K
H
R
Net property wealth in Wales
among the lowest in Great Britain
200
150
100
50
2
0
1
5
0
Sources: Wealth and Assets Survey 2010 - 2012, ONS
U
K
H
R
2
0
1
5
Property Wealth & Taxation
U
K
H
R
2
0
1
5
• Property wealth
•
•
•
•
Capital Gains Tax
Rental Value Tax
Inheritance tax
Stamp Duty
• Benefits to established owners
UKHR
2015
U
K
H
R
2
0
1
5
U
K
H
R
2
0
1
5
Impact of old and new ‘stamp duty’ regimes
D
u
t
y
£100,000
£90,000
£80,000
£70,000
£60,000
£50,000
£40,000
£30,000
£20,000
£10,000
£0
Property Values - £ (000’s)
Old Regime
New UK Regime
Owning & Renting
U
K
H
R
• Changing Age & Tenure Profiles
• Affordability & Wealth Barriers
• Costs of Renting & Buying
2
0
1
5
• Balancing the odds for younger
households?
Changing Tenure Profiles
U
K
H
R
2
0
1
5
2
0
1
5
100
90
80
Percentage ownership
U
K
H
R
70
60
50
40
30
20
10
0
20
25
30
35
40
1990
45
1980
1970
50
55
60
65
1960
CML projections based on 2014 propensities & Alan Holmans methodology
2
0
1
5
7.0
70
6.0
60
5.0
50
4.0
40
3.0
30
2.0
20
1.0
10
0.0
86
19
Percentages
Ratios
U
K
H
R
0
88
19
90
19
92
19
94
19
96
19
98
19
00
20
House prices to earnings
02
20
04
20
06
20
08
20
10
20
12
20
14
20
Mortgage costs to earnings
ONS mix adjusted FTB house prices; ASHE Earnings (adjusted for changes in methodology)
U
K
H
R
2
0
1
5
UKHR
2015
UKHR
2015
U
K
H
R
2
0
1
5
Costs of renting and buying in Wales
U
K
H
R
£
p
e
r
1200
1000
800
600
2
0
1
5
m
o
n
t
h
400
200
0
1 Bedroom
Rent
2 Bedroom
Interest Only Mortgage
3 Bedroom
4 Bedroom
Repayment Mortgage
2013 Regulated Mortgage Survey House Prices, Welsh Government Private Rents
Balancing the odds for the younger generation
U
K
H
R
2
0
1
5
• Property taxation
• Access to low deposit mortgages
• Counter balancing the regulatory
advantage of BTL landlords?