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TODAY'S OTHER NEWS

The majority of private tenants don’t want to buy a home, research shows

Most private tenants are not currently interested in buying a property, fresh research shows. 

Just 42% of tenants are interested in purchasing property in the near future, according to a new study by Landbay. 

The poll delves into the psyche of 2,000 private renters in the UK, offering insight to landlords on the wants and needs of their tenants.

Older renters are the least interested in buying a home. Just 13% of over 55s are interested in buying a home in the near future. 

Less than half - 46% - of those 35-44 are interested, whilst millennials - aged 25-34 - are leading the charge for home ownership, with almost two thirds - 64% - keen to buy in the near future.

There is also a notable gender discrepancy, with almost half - 47% - of women keen to buy a home, compared to just 34% of men. 

Women who want to buy are more likely than men to want to invest their money rather than pay rent - 48% vs 39%. 

The number of people planning to buy is highest in London, at 48%, and Northern Ireland at 47%. 

Those in the South West and Wales are least likely, both coming in at 37%. This is especially surprising given the relatively low house prices in these areas.

For those who are not interested in buying, the flexibility of renting shines through as a positive. 

A quarter - 25% - of renters without home ownership aspirations say the flexibility of renting proves too tempting to resist. 6% attribute their plan to move to a new country, and 5% plan to move to a new city or a new job.

John Goodall, CEO, Landbay, said: “This research suggests the UK’s enthusiasm for homeownership may be waning. Conversations around the private rental sector often assume the bulk of renters are simply biding their time until they can buy a house. However, the changing face of employment and a thirst for flexible living mean renting is more attractive than ever, and landlords should reflect this in their interactions with tenants.

“It’s crucial that investment in the private rental sector becomes a priority. What use is Labour’s  ‘right to buy’ policy if renters have no interest in doing so? Instead, the government must focus on encouraging purpose-built rental properties and cease its penalisation of landlords.”

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    I think that is very true, they either don't want to or know that they never will, it takes commitment, hard work and going without the expensive life styles to buy property, then when they have bought there is the maintenance, something the snowflakes are incapable of.

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    Oh well that's put a spoke in McDonnells nasty little wheel.
    He'll have to come up with another plan to try and entice voters as Labour are Sh*t out of policies.

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    Maybe the potential buyers will change their minds when they realise that they can get over 30% off the value if ( the worst happened) Labour get in at the next election?
    Also, if it is a hung parliament with the Limp Dems sharing power, this looney left policy may still go ahead.

     
  • Paul Barrett

    Tenants can buy now if they bother to save up a suitable deposit and meet all other mortgage lender requirements any idiot can buy at discounted prices if some other poor sap is providing the discounted price!!
    In this case the poor saps will be private LL having their equity expropriated by a Marxist Govt.

    Just like the feckless scroungers who took advantage of the RTB and then sold the properties pocketing vast amounts of equity the same will occur if the RTB of private rental property is facilitated.
    The Labour Party clearly is planning to expropriate the Asset value increase of property over the past 50 years and pass it over to the feckless as this is where the money is!!
    I'm amazed that there doesn't seem to be the realisation amongst LL that the game is over!!

    This potential Labour Govt is the most evil one that will ever have come to power.
    There is NO legal process that will prevent a Labour Govt from enacting its bonkers expropriation policies.
    It will simply introduce legislation and there is nothing LL could do about it.
    Even if Labour don't win this GE there is always the next one in 5 years time!!
    It is time to sell up and hide the proceeds.
    Labour is coming for the value locked up in property to then give it away to the feckless.
    Why hang around waiting to be effectively robbed!!?



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    Can the source of this research please be revealed? I can't see a link to the primary source anywhere. It'd be good to see how reliable and robust this data actually is - i.e. where were the pool of 2,000 tenants drawn from? What was the exact question asked? etc

    apologies if i've missed it!

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    I can’t understand why the Government / local Authorities, Citizens Advice & Shelter keeps banging on about high Rents.
    They themselves are the main driver of high Rents with a whole raft of Regulations & Costs that they never contributed a penny to, adding billions of £’s costs to the Private Rented Sector. Please Mr Regulator take a look closer to home, incidental LL’s pay for all, All. All

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