Few tenants are looking to buy

Only 13% of tenants are interested in buying a property at present, research from online letting agent Upad has found.

Few tenants are looking to buy

A quarter (24%) couldn’t afford a mortgage, a similar amount (26%) rent as it fits their work or education system and 14% rent due to personal circumstances such as a breakup.

Despite the lack of tenants looking to buy property only 13% have no desire to ever own a home, while one in five tenants have owned a property previously.

James Davis, Upad founder and portfolio landlord, said: “The number of long-term tenants alongside those who have no desire to ever own a home further highlights the importance of landlords in the housing sector, and how they will remain so for many years to come.

“What’s also interesting is we’re now seeing over 1 in 5 tenants who were previously homeowners deciding that renting is now better for them for a variety of reasons.

“Given the proposed letting fees ban has progressed to the debate stage in Westminster it will be intriguing to see if the government ever wakes up to the obvious importance of landlords in the marketplace.”

Enter your e-mail address to receive updates straight to your inbox

My Newsletter

You can easily unsubscribe at any time by clicking on the unsubscribe links at the bottom of each of our emails

About Author