The UK’s first well being survey has revealed that owning your own home makes you more happy when compared with living in other tenures.

The survey, carried out by the Office for National statistics, found that 80% of people that owned their home outright or had a mortgage were of medium to high levels of satisfaction. This compared with only 68% of people that found satisfaction living in other types of tenure.

The research even found that ‘An individual’s housing tenure and the level of their overall satisfaction with life are linked.’

‘According to the 2011/12 subjective well-being annual population survey dataset, a higher proportion of those who owned their property, either outright or with a mortgage, reported a medium/high level of life satisfaction than those with other tenures in the UK in 2011/12.’

It adds: ‘The availability of different tenures and types of accommodation in a local area may contribute to a person’s overall satisfaction with the area in which they live.’