ESSEX has ranked second nationwide for home ownership rates, a study has revealed the county beat out the likes of Sussex, Kent, Berkshire and London.

Within Essex, Tendring ranked fifth in terms of areas with the highest proportion of home ownership across the county at 74 per cent.

The study, commissioned by UK conveyancing solicitors Bird and Co, analysed current figures from the Office for National Statistics.

Daniel Chard, partner at Bird and Co said: “Home ownership rates have been a contentious topic for a number of years now, as cost of living continues to rise whilst salaries do not meet the demand.

“This is making it very tricky for particularly young people to jump on the property ladder these days.

“Despite this, it’s reassuring to see that the percentage of homes owned exceeds homes rented in most localities.

“Although a number of the houses in this equation may be second homes, we’re pleased to see that many UK citizens have made it into home ownership, despite the challenges faced.”

The study found the number of homes owned – either outright or by a mortgage – and put them against homes rented in each area.

Each area was then assigned a percentage home ownership rate and ranked from highest to lowest.