Want to own your own home in London? Be a man

Many young people are struggling to own their own home  (PA Wire)
Many young people are struggling to own their own home (PA Wire)

Men are more likely than women to follow their parents into homeownership, a new report revealed on Tuesday.

The Social Mobility Commission’s State of the Nation report for the first time delved into who gets onto the property ladder.

Among women whose parents were homeowners, 64 per cent own their own home, it found.

But for men the figure was higher, at 75 per cent.

Similarly, among those whose parents were not homeowners, only 35 per cent of women compared to 55 per cent of men owned their own homes.

Housing mobility has very significantly worsened over time, emphasised the SMC.

The link between parents’ home ownership and children’s home ownership has strengthened since 1991.

The report also highlighted a strong regional pattern, with London being considerably worse than other areas of the country. This is likely to be due to rising house prices in the capital, it added.

People whose parents owned their own home are much more likely to own their own home (71 per cent) compared with those whose parents did not own their own home (46 per cent).

There is a link between parents’ and children’s wealth, the SMC explained, with a 10 per cent increase in parents’ wealth associated with around a three per cent rise in their children’s wealth at a similar stage of life.

Women are also less likely than men to experience upward occupational mobility.

Just eight per cent of women moved from a lower working-class background to a higher professional job, compared with 14 per cent of men.

Young women’s hourly earnings are around 90 per cent of the hourly earnings of young men from the same socio-economic background.

Working class youngsters in a string of west and north London suburbs are the most likely to get a professional job compared to other parts of the UK, the new report found.

Young people who grew up in this Outer London area, which includes Barnet, Brent, Ealing, Harrow, Hounslow, Hillingdon and Richmond, have a 46 per cent chance of finding employment as a lawyer, doctor, senior manager or other professional role.

This compares to 40 per cent for Surrey and Sussex, with the lowest figure being Northern Ireland, 28 per cent.

The 250-page study found that young people around London have more “promising prospects”, higher education, occupation and earnings, even after their socio-economic background is taken into account, with a similar picture for Manchester and Edinburgh.

Upward educational mobility, measured as children obtaining degrees whose parents did not, is most common in London at 39 per cent, yet only 22 per cent in the East Midlands.

Children on free school meals in the capital also do much better than the average FSM pupil.

But the report also warned that London is a hugely divided city, with people moving up, and going down, growing up side by side.

Young people in London are more likely than average to be unemployed.

Pupils eligible for FSM from black African and Pakistani backgrounds outperform white British students at GCSE however this does not necessarily translate into better employment opportunities, the indepth study highlighted.

Equally, some people, such as those from Pakistani, Bangladeshi and black African ethnicities, are more likely to become university graduates but this does not translate to higher chances of getting a professional job.

However, young people from Chinese (£18.20) and Indian (£16.70) ethnic backgrounds earn significantly more than white British (£15.50) young people from the same socio-economic background. This reflects their higher probability of being in a professional class.

The report shows that social mobility outcomes for people with a disability are consistently worse than for those without across a range of areas including education, occupation, income and housing.