London's ageing population results in a lower homeownership rate

While London is experiencing a demographic shift, with its average age rising from just under 34 years in 2001 to 36 years in 2022, the capital's soaring house prices have made homeownership increasingly unattainable. Analysis by the Centre for Cities shows that many younger residents are migrating to more affordable cities like Milton Keynes and Peterborough. The cost of buying a home  in the capital has far outpaced incomes, with property prices now 14.1 times the median household income, up from 5.9 times in 1998. This affordability crisis has contributed to the ageing population, as London increasingly becomes a city for middle-aged homeowners rather than young first-time buyers. 

The Daily Telegraph (25/02/2025)