North Norfolk Leads England with 49.8% Mortgage-Free Homes

North Norfolk has the highest proportion of properties owned outright by occupants in England, with 49.8% of homes fully paid for and free of mortgage debt, according to the Office for National Statistics (ONS). This coastal district, which includes seaside towns like Cromer and Sheringham, also has the largest percentage of residents aged 65 and over, a trend common among areas with high outright homeownership. Other local authorities with similarly high rates of outright ownership include Rother in East Sussex, Staffordshire Moorlands, Derbyshire Dales, and East Lindsey in Lincolnshire. In contrast, London boroughs such as Tower Hamlets, Hackney, and Southwark exhibit the lowest percentages of outright homeownership, often coinciding with higher rates of private renting. The ONS data from 2023 also shows that North Norfolk has a notable number of homes that are second homes or long-term empty, reflecting its status as a popular coastal area. Overall, coastal and rural regions tend to have higher rates of mortgage-free homeownership compared to urban centers.