Do tenants want to buy?
14th October 2017
Recent research from a tenant survey conducted by Upad suggests that 1 out of every 10 tenants are not looking to buy their own home in the UK and have no desire to in the future. Almost 9 out of every 10 tenants surveyed stating they’re not currently interested in buying.
Approximately a quarter of respondents reported that the main reason they were not interested was due to the increasing difficulty with getting a mortgage. Affordability seems out of reach for many stating that they couldn’t get on to the housing ladder even if they wanted to. Another quarter said they were renting due to being situated close to their work or education.
Interestingly, over 20 percent of tenants have owned a property previously and 40 percent of those surveyed have rented for over 4 years.
This may be welcome news for landlords as demand for rental property remains high and with interest rates predicted to rise soon we can’t see a huge change on the horizon. It may be of some comfort for private landlords who may face rent caps and further legislation over the coming 12 months on top of recent tax changes.
Brighton Homeowners: Bank of England’s Rate Cut Could Save You Money
12th February 2025
Good news for Brighton homeowners! The Bank of England has just lowered the base rate to 4.5%, the first cut…
HMO Finance in 2025: What Landlords Need to Know
11th February 2025
By Luke Martin, Senior Mortgage and Protection Advisor HMO (House in Multiple Occupation) investment remains a high-yielding opportunity in 2025,…
Renters’ Rights Bill: A Quick Guide for Tenants and Landlords
4th February 2025
A summary for tenants and landlords from the property experts at Coapt. The Renters’ Rights Bill, progressing through Parliament, is…