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

Brilliant racks up a memorable afternoon for charity

Brilliant Solutions was on cue at Rileys as 70 players and several late arrivals...

Rayner rules out rent controls

Housing Secretary Angela Rayner has ruled out rent controls in England, providing greater certainty...

Mortgage Brain adds Uinsure home insurance quotes to CRM platform

Mortgage Brain has integrated Uinsure with CRM Brain, allowing brokers to arrange buildings and...

Nationwide and Accord the latest to increase rates

Mortgage borrowers have been urged to review their options after Nationwide and Accord increased...

Four in five first-time buyers say schools failed to teach mortgage basics

Almost four in five UK first-time buyers believe their education failed to prepare them...

Latest publication

Other news

Rates are moving and regulation is evolving

Many lenders are having to increase their rates, and that trend looks set to...

Building tomorrow’s mortgage market: AI built on trust, governance and confidence

The government's Financial Services AI Adoption Plan, led by Harriet Rees, group chief information...

The protection prompt: what AI still needs to get right

The Mills Review has prompted plenty of discussion across the mortgage industry. While much...