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

Mid-market real estate lender Pallas Capital launches UK operation

Pallas Capital, a non-bank bridging and development lender with a £1.8 billion loan book,...

Foundation simplifies brand as it drops ‘Home Loans’ from name

Specialist lender Foundation has unveiled a new brand identity, marking what it describes as...

Roma Finance extends buy-to-let lending into Scotland

Roma Finance has launched a buy-to-let product in Scotland, extending a proposition that is...

Afin Bank strengthens regional sales team with two senior BDM appointments

Afin Bank has appointed two senior business development managers as it continues to build...

More2life widens valuation options with Countrywide tie-up

Later life lender more2life has partnered with Countrywide Surveying Services to expand valuation choice...

Latest publication

Other news

Mid-market real estate lender Pallas Capital launches UK operation

Pallas Capital, a non-bank bridging and development lender with a £1.8 billion loan book,...

Foundation simplifies brand as it drops ‘Home Loans’ from name

Specialist lender Foundation has unveiled a new brand identity, marking what it describes as...

Roma Finance extends buy-to-let lending into Scotland

Roma Finance has launched a buy-to-let product in Scotland, extending a proposition that is...