LETTINGS NEWS: Renting becomes a lifetime option for many
One of the largest-ever surveys of British homeowners and tenants, carried out by ICM on behalf of Aviva in September, suggests that more than a third of those currently in the private rented sector believe they will never be in a position to buy their own home. The research revealed that only 15% of renters are actively saving for a deposit for a home with 56% saying they cannot afford to buy a house.
Nearly a quarter say they are renting because they now regard the property as their ‘family home’ for the long term, with many renting specifically in order to afford a house in a good area for raising a family. Nevertheless, security is not guaranteed for private renters who move house almost twice as many times as homeowners.