Alone time sought by ten million in ten years

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Alone time sought by ten million in ten years

It is looking increasingly like people are enjoying their own company more with a report by the Alliance & Leicester discovering that in the next 20 years, the amount of people living alone will increase by 53 per cent.

This will raise the number of homeowners living solo to 9.9 million by 2026, while in 20 years' time, married couple households will decrease from the current level of 9.6 million to 8.8 million.

The Alliance & Leicester report details that an additional 200,000 homes will need to be built per year to match supply with demand and 75 per cent of these new properties will be snapped up by those living on their own.

Stephen Leonard, director of mortgages at Alliance & Leicester, stated: "We can expect to see an increase in flats and converted houses in the future due to the rise in the one person household as, understandably, people living on their own will be less likely to splash out on a larger property."

Alliance & Leicester offers a range of mortgages that could be snapped up by those looking to live alone with rates beginning at 4.84 per cent for the two-year fixed-rate mortgage.

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Related News : Alliance & Leicester

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