Tenants-60% want to buy

A Rightmove survey has highlighted the fact that 6 out of 10 tenants would like to buy but cannot afford to. This highlights the fact that the UK is still a nation of aspirant homeowners even if finances currently prevent many tenants from fulfilling their dream.

The survey does indicate that there is also an increasing culture of renting with a rise of the proportion of tenants interviewed from 12.8% to 13.6% who say they rented because they liked it.

However, it's still clear that the majority of tenants; 59% wished they could afford to buy right now, a further 27.4% said they wanted to buy in the future.


This is all good news for landlords.

Strong demand from potential purchasers will underpin the value of residential property over the next few years despite the heavy financial cuts needed to re-balance the UK's overstretched finances. Coupled with this the cost and constraints in the mortgage market will mean that many tenants will continue to rent; keeping demand for rental property strong.

Chris Horne Editor of the UK's leading website for landlords comments:

"The downturn of the last few years has highlighted the resilience of the residential lettings business model. People will always need a place to live; what ever turbulence hits global financial markets."

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