5 Aug

60% of British tenants want to buy homes

60% of British tenants want to buy homes

The idea of home ownership and heading to estate agents is something that many Brits have put on the back burner in recent times thanks to the difficulty with affording a mortgage.

However, in spite of this, many people who have had to move into the rental market as a result still say that they would ideally like to own their own property.

According to findings from Rightmove, some 60 per cent of people living in buy-to-let properties have aspirations of buying their own property but cannot afford to. This is an increase of two percentage points when compared to the 58 per cent seen in the last quarter.

This is in spite of the fact that mortgage providers helped produce a 19 per cent rise in the number of newcomers to the market in the first half of the year, and despite 96 per cent of tenants dreaming of buying at some point.

Miles Shipside, director of Rightmove, said: "Even though some agents are reporting an increase in those buying and escaping the rental trap, the growing number of new households and former homeowners returned to the rental sector keeps producing new tenants."ADNFCR-1222-ID-801621035-ADNFCR

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