Ten­ants con­sider a move to buy a home

Rutherglen Reformer - - Property -

More than half of ten­ants would move or con­sider mov­ing to a dif­fer­ent town or city in or­der to buy a home, ac­cord­ing to a new poll of pri­vate renters.

The poll found that just over a quar­ter of ten­ants (27 per cent) would re­lo­cate in or­der to buy a house, and a fur­ther three in ten (29 per cent) would con­sider do­ing so.

How­ever, forty four per cent of ten­ants said they would not move to another town or city even if it meant be­ing able to af­ford to buy their own place.

Ten­ants in Lon­don were the most open to the idea, with 87 per cent say­ing they would re­lo­cate or con­sider re­lo­cat­ing in or­der to buy a home.

How­ever, ten­ants in the East Mid­lands were the least re­cep­tive to the idea, with just 14 per cent will­ing to re­lo­cate.

The re­search also shows that al­most half of those sur­veyed (47 per cent) said they were un­able to af­ford a de­posit for a new home, with a fifth (22 per cent) un­able to ac­cess mort­gage fi­nance to buy.

The find­ings come as the lat­est English Hous­ing Sur­vey shows that more pri­vate rented homes now meet the de­cent homes stan­dard than ever be­fore, with fewer over­crowded prop­er­ties and a larger pro­por­tion of en­ergy ef­fi­cient prop­er­ties.

Richard Lam­bert, CEO of the Na­tional Land­lords As­so­ci­a­tion (NLA) said: “Home­own­er­ship is out of reach for so many peo­ple, so the idea of up­ping sticks and mov­ing to a new town or city in or­der to buy their own home is be­com­ing more and more ap­peal­ing.

“I think peo­ple are look­ing at the costs of buy­ing, es­pe­cially in high de­mand ar­eas like Lon­don and the South East, and re­al­is­ing what they could get for their money else­where.

“Re­lo­cat­ing is never an easy de­ci­sion to make as it will of­ten in­volve leav­ing be­hind friends and fam­ily.

“Then there are all the other con­sid­er­a­tions, not least whether you’ll be able to find the em­ploy­ment to make a move pos­si­ble.

“In the mean­time, the pri­vate rented sec­tor re­mains a key part of the UK’s hous­ing mix and it’s es­sen­tial that ten­ants can rely on it.

“The lat­est find­ings from the gov­ern­ment are en­cour­ag­ing but more must be done to im­prove con­di­tions for the mi­nor­ity of ten­ants who have a bad ex­pe­ri­ence of rent­ing pri­vately”.

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