Property crash puts off renters from buying

Published on

31% of renters claim that renting gives them more freedom than those who own their own home, while 12% no longer aspire to the status symbol of owning their own home, according to new research from Unbiased.co.uk.

6% of renters have been put off buying due to the property market crash and 7% have been financially unable to buy due to the property market crash.

Of 1.75 million homeowners, 32% stated they had not considered doing this in the past. A further 31% said they would consider selling their home and renting but aren’t able to do so at the moment as the price they would get for selling their home is too low.

Only 13% of renters say the property market crash has not put them off buying, and they are still hoping to purchase their own house. Owning their own home appears most important to the younger generations, with 22% of those aged between 18 to 34 still hoping to buy. The older generations of renters are less interested in buying after the property market crash, with only 6% of those aged between 35 to 54 and 2% of those aged 55 or over stating they are still keen to stop renting and buy their own home.

Karen Barrett, chief executive of Unbiased.co.uk, said: “While there are mixed messages as to whether house prices are now starting to rise again

COMMENT ON MORTGAGE SOUP

We want to hear from you!
Leave a comment and get the conversation started.
You need to register to post, so please login or sign up below.

Latest articles

West Brom launches interest-only and discounted products

West Brom Building Society has launched new interest-only and discount variable products and reduced...

The Right Academy targets 100 trainee advisers after strong start

The Right Academy, the specialist training programme from The Right Mortgage & Protection Network,...

Furness BS reports record app-to-offer rates

Furness Building Society is reporting record app-to-offer rates as it continues to roll out...

TMG boss gives staff day off after England’s 1am World Cup clash

TMG mortgage network founder and CEO Scott Thorpe has given all staff an extra...

Claire Cherrington on the challenges facing mortgage clubs

The mortgage club and compliance landscape is changing faster than at any point in...

Latest publication

Other news

West Brom launches interest-only and discounted products

West Brom Building Society has launched new interest-only and discount variable products and reduced...

The Right Academy targets 100 trainee advisers after strong start

The Right Academy, the specialist training programme from The Right Mortgage & Protection Network,...

Furness BS reports record app-to-offer rates

Furness Building Society is reporting record app-to-offer rates as it continues to roll out...