The bar graph highlights the proportion of UK citizens between the ages of 25 and 34 who either rent or own a home. Moreover, it captures this shift over eleven years.
Overall, the proportion of homeowners is obviously declining, while the number of renters is substantially soaring. At the beginning of the era, owning a home was the most common housing arrangement, but by the end, renting had taken the top spot.
The fraction of homeowners fell slightly between 2004 and 2006, from just under 60% to around 55%, while the percentage of rental housing increased slightly, from 20% to over 25%. Then, in the next four years, the number of people who owned their homes fell sharply to 43%, while the number of leased dwellings substantially rose to 41%.
From 2011 to 2012, the proportion of homeowners stayed at 43%, which was consistent with the 41% rate in the leased housing category. A significant change in housing fundamentals was seen in 2013 when renters surpassed homeowners. In the next two years, the percentage of renters increased significantly, reaching close to 50%, while the percentage of homeowners decreased drastically to 35%.