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LONDON, June 17 (Reuters) - Most young Britons say risingbarriers to home ownership are dividing the country socially andeconomically, and one in five has abandoned the dream of everowning a property, a survey by mortgage provider Halifax said.
Over 70 percent of 8,051 survey respondents said the countrywas being split between those who could and those who couldn'tbuy a home, which in the long run could impact neighbourhoods,families and the job market, the Lloyds Banking Group-owned lender said on Monday.
The respondents, aged between 25 and 40, said the effectsincluded leaving their generation without sufficient resourcesfor retirement, affecting social mobility and widening thecountry's wealth gap.
House prices rose steeply in Britain from the late 1990suntil the global financial crisis broke in 2008, and they havebeen kept high by a combination of factors, includinghistorically low interest rates and shared ownership schemes.
"Home ownership is clearly still an important goal for a lotof people, but fewer and fewer people consider it to besomething they'll be able to achieve," said Halifax's MortgagesDirector, Craig McKinlay.
"Renters say they never feel properly settled and fear theywill struggle to retire, so the social impact of this shift issignificant. More needs to be done to redress the balance, boththrough making homeownership more accessible and offering morestability through the rental sector."
The number of Britons renting privately is at its highestlevel since the 1990s at 22 million households, the survey said,with many unable to afford to buy a home due to the chunkydeposits needed, a lack of mortgage loans and stagnant incomes.
Thirty-six percent of respondents said that they would liketo buy a home but did not think they would ever be able to, thesurvey said.
Halifax also said that 70 percent of respondents did notbelieve, or were unsure that government plans to supporthomebuyers would help the market. In March, finance ministerGeorge Osborne announced plans to provide and guarantee billionof pounds in housing loans, which critics say could driveproperty prices higher still.
Housing Minister Mark Prisk said there had been 4,000reservations under the guarantee scheme and urged others lookingto buy a home to participate.
