These people face larger hurdles to finding a home. However as part of the legacy of the credit fuelled house price boom and bust, the rise in house prices has also benefitted some households.
Five years ago over one third of mortgaged households were in negative equity.5 When that happens, households can become trapped: they cannot refinance to a lower interest rate and it is difficult to move, be it to find a new job or to upsize or downsize to accommodate changing family size.