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Friday, November 26, 2010

Tenants want to buy

The latest Rightmove survey of 2,636 tenants found that 55% of tenants wanted to buy a home now, but cannot afford to do so. Out of those tenants surveyed only 13% said they had no interest in home ownership.  The main reasons for tenants not being able to get on the housing ladder is the high costs of deposits and the tight credit scoring criteria.

This according to Commercial director Miles Shipside has led to a rental stock down 23% compared to a year ago.  This shortage of rental stock has led to cases of gazumping over rental properties in some areas and some tenants as 'trapped renters".

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