Britain is turning into a land of renters, reversing the drive to increase homeownership pushed by Prime Minister Thatcher.
Home ownership has dropped to its lowest level for 25 years.
Of England’s 14.3 million homeowners, more than a third are over 65 years.
Just 1.4 million homeowners are between 25 and 34, the age group most likely to be raising families, while 96,000 are aged between 16 and 24.
The overall number of homes lived in by owner-occupiers has gone from 71% in 2003 to 65% last year, the lowest level since 1987.
Rapidly rising house prices are keeping younger people out of the property market.
At the same time, the numbers in private rented accommodation have gone from 2.2 million to nearly 3.9 million in the decade to 2013.
For the first time, private rentals are greater in number than from council or housing association stock.
There has been a significant increase in the number of people who claim housing benefit in order to rent their homes. Private rentals with housing benefit have gone from 19% to 25% in the past five years, while in the social housing sector the percentages have increased from 59% to 66%.
