Friday 27 July 2012
The UK’s first well being survey has indicated that owning your own home can make you more happy than living in other types of tenure.
The Office for National statistics conducted the research and found that 80% of people that owned their property outright or had a mortgage were of medium to high levels of satisfaction. This compared with only 68% of people that found the same satisfaction level living in other types of tenure.
The survey also uncovered that ‘An individual’s housing tenure and the level of their overall satisfaction with life are linked.’
‘According to the 2011/12 subjective well-being annual population survey dataset, a higher proportion of those who owned their property, either outright or with a mortgage, reported a medium/high level of life satisfaction than those with other tenures in the UK in 2011/12.’
It went on to add on insidehousing.co.uk that: ‘The availability of different tenures and types of accommodation in a local area may contribute to a person’s overall satisfaction with the area in which they live.’