The HomeOwner Survey 2018 - Issue, trends and how we feel about our homes

18 Annex – Calculation Methodology Calculation Notes 1. Number of Aspiring UK Homeowners : Source: DCLG live tables on dwelling stock Great Britain table 102 by tenure (last updated May 2018) Total UK Dwellings 27,713,000 - 17,345,000 owner occupied dwellings = 10,368,000 non-homeowners x 74.3% non-homeowners who would like to own their home one day = 7,703,424, approximately 7.5 million aspiring homeowners 2. Number of homeowners age 18-54 who considered a move in past 2 years but did not proceed: Total homeowners (17,345,000) – Homeowners 55+ (11,900,000)= 5,445,000 homeowners 18-54 x 22.78% considered a move but did not in past 2 years = 1,240,371, 1.2 million homeowners age 18-54 (second-steppers) considered a move but did not do so. 3. Number of homeowners age 55+ who considered a move in past 2 years but did not go through with a move: Source Legal & General & CEBR Last Time Buyer report 3 .1 million downsizers/ representing 26% of homeowners age 55+ = 11.9 million Homeowners age 55+ x 19.6% homeowners 55+ who considered a move but did not = 2,332,400, more than 2 million homeowners 55+ considered a move in past 2 years but did not move. Of these, 45.82% did not move because of lack of suitable housing: 2,332,400 x 45.82% = 1,068,706, over 1 million homeowners age 55+ wanted to move but did not because of lack of suitable housing 4. Failed transactions: 1,223,060 UK completed residential property transactions (HMRC) . Total completed & failed transactions = 1,223,060/ 80%= 1,528,825 total transactions x 19.72% of sellers experience sale failing to go through to completion = 301,484 failed sales . 5. Cost to sellers of failed transactions: 51.26% of sellers incurred costs, costing on average £2,727 = 301,484 x 51.26% x £2727 = £421 million total cost to sellers of collapsed sales.