As the cost of home ownership soars, many of the middle class families are giving up hopes of owning a home. The Bank's annual survey revealed that half of families who don't own their home believe they will never get to have their own.
The figures represent around 4.5 million households and believe home ownership is out of reach which highlights the depths of the housing crisis in Britain.
A quarter of Britain's rich households averaging £60,000 a year after taxes and benefits - believe they would never own one, while a third of the households are unlikely to ever buy a home.
According to Telegraph report the prospect of home ownership for the poor households is even more impossible, where more than half of non-homeowners saying they don't have the capacity to own a home.
In the other survey, it showed that 46 percent of households said they could not afford up-front costs such as deposits, stamp duty and agent fees, while 33 percent said they just cannot afford the monthly mortgage payment.
According to official data, home ownership in Britain has fallen from 73 percent in 2007 to 65 percent today.
The data also showed that prices in housing would grow consistently at a faster pace than earnings in London and south of England for the rest of the decade.
The prices of homes in the UK has risen in the past year, aggravating a housing crisis as more and more people struggle to save money for sky-high deposits.
According to estate agents, house prices in the UK will rise by 50 per cent over the next decade.
The forecast of the estate agents assumes that the price increase in housing will continue to the next decade, says the BBC as reported by The Week media.
The prices in housing had been rising at double-digit percentage in annual rates. But with the shortage of supply and strong demand, rates will still increase between four and six percent in 2016.
