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Covid fall-out makes life worse for renters, claims new report

The pandemic has made future prospects for renters worse, according to a new survey. 

Four out of 10 tenants questioned by the Nationwide say their experience of the pandemic has made owning their own home more important than it was 18 months ago.

Affordability remains a significant barrier for many, with 41 per cent of renters saying getting a deposit together and meeting other upfront purchase costs make buying their own home unaffordable.


The findings are part of extensive research conducted by Ipsos MORI on behalf of Nationwide into attitudes regarding home and housing post-pandemic. 

The full report – The Future of Home – will be released this week and will cover the UK’s views on a range of housing-related topics including home ownership, renting, the shortage of skilled building professionals and the greening of homes.

Research by the Organisation for Economic Cooperation and Development shows that Britons spend the joint highest of any other nation on housing, with some 26 per cent of disposable income being spent on the cost of a home on average. 

This rises rapidly for those in lower earning roles, including carers, labourers and couriers, where mortgage or rental payments swallow over 40 per cent of take-home pay. 

Data from Nationwide shows that currently the average first-time buyer property costs 5.6 times the average income compared to the long run average of 3.2.

The Future of Home report also looks at the differences in people’s view on housing by generations, with some stark differences emerging between age groups and across regions.



Sara Bennison, chief product and marketing officer at Nationwide Building Society, says: “Our research and cross-industry conversations show that the pandemic has served to exacerbate long-standing issues in the housing market. Layer onto that the enormous challenge of making the UK’s homes net zero and the challenge ahead becomes even greater. 

“The need for more homes, more affordable homes and more sustainable homes are some of the critical questions we address.”


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    I have lost 2 excellent tenants this year that have bought their own houses, sorry to lose them, but pleased for them, so it can be done, just means a bit of hard work and going without a few extras .

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    I have had several lots of Tenants over the years that have bought their own place & indeed this year a long term couple have bought their own Freehold house, its how life works I rented for 9 years in various Towns around the UK before I Built my first Home and without Scheme’s.

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    I've rented (both home and abroad) in the past and saved to be able to buy. Today's tenants can do the same if they put their mind to it (some just don't want to for personal and/or work reasons). If my tenants want to leave because they're buying good luck to them. I've been lucky so far with my tenants and will be sorry to lose them if this happens but life goes on and they're doing what's right for them at that moment in time.

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    Corona fall out certainly made it worse for LL’s to. I lost quite a few stable Tenants when their work got restricted or Contracts cancelled, many moved back over Seas or back to other parts or UK. So I had 5 become available suddenly, there was refurbishment to be done between Contracts a big work load all at once, you can’t allow for that.


    I only lost one through Corona, a commercial tenant of 24 yrs, but that re let quickly, I have 2 vacant at present, both needing work, one will be finished this week after 8 wks work, then I will start on the next one, another 8 wks work I expect, so I'm busy busy, but these voids are useful to get work done with no tenants in the way.

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    So expensive to do anything with property now, the material costs have rocketed even if you do the work yourself it still costs thousands, no income in the mean time and pay C/tax, on the other hand no income tax on no income. Suppose you have a property suitable to create 2 Flats, forget it Council fees ?, Architect fees £5’000, building control fees ?, gas board alterations £800., additional Electric supply £3’600, Mayor of London CIL £4’000 for nothing . looks like over £120’000. for work, 9 months no income while you pay the loan, authorities keep loading on costs they think you’ll be making a fortune they are living in cloud cuckoo land, unless there’s a magic money tree that I know nothing about. Mr Khan & others time to wake up to reality stop your money grab nonsense before it goes belly up.


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