LONDON, Jan. 8 (Xinhua) -- An estimate of 3.1 million social homes will be needed to meet the country's demand for social housing over the next 20 years, housing charity Shelter said on Tuesday.
It will require 1.3 million social homes to support households in greatest need, including those homeless, with a disability or long-term illness, or living in very poor conditions, a report by Shelter said.
A further 1.2 million homes will be required to support the existing and newly forming lower income young households who are not expected to be able to afford home ownership in their lifetimes, it said.
Finally, to provide housing for older people looking for affordable and secure homes in their old age will require 690,000 homes, it said.
The report said due to the high cost of housing now, young households today will be less likely than earlier cohorts to save a sufficient amount for a deposit to buy a home.
Research suggests that at age 40 ownership rates tail off - if one is not a home owner by 40 it is much less likely that he/she will go on to be so later on in life, it said.
