According to a London-based think tank, The Resolution Foundation, England’s housing crisis is spreading; creeping northward.
In the early years of the new millennium home ownership rose as buyers rushed to take advantage of readily available mortgages. Prices rose rapidly, increasing at up to 20% p.a. In response, the number of new buyers started to fall. After the financial crisis of 2008, the housing market crashed.
Home ownership across the country subsequently fell to its lowest level since 1986. A spokesman for the think tank said that the problem was one of affordability as house prices had outpaced earnings.

Home ownership in England at lowest level in 30 years as housing crisis grows – The Guardian