Home ownership, energy, spending and insurance

Home ownership among 25-year-olds has halved in two decades, according a survey conducted for the Local Government Association (LGA) by estate agents Savills.

Just one in five of those under 25 own their own property, compared with 46 per cent two decades ago.

The BBC reports that the LGA wants the Government to recognise a ‘renaissance’ in house building by councils is needed. ‘The LGA said government needed to tackle the shortage of affordable homes to rent and buy. It says it found that, on average, private renters pay 34 per cent of their household income on rent, while social and affordable renters pay 29 per cent.’ Energy Thisismoney reports that ‘Britain’s energy providers owe £97 million to former customers who had credit on their accounts before closing them and switching providers’.

This is according to the energy watchdog. Two years ago, Ofgem said that energy providers must return credit to former customers after it found they held millions of pounds in closed account credit balances.