Half of all renters have no intention of trying to buy

28 2008
Almost one out of every two tenants has no intention of moving out of the rental accommodation sector in the near future, a new study has found.

Research carried out by Credit Expert revealed that 48 per cent of people who do not currently own their own property do not intend to move onto the property ladder, swayed largely by affordability problems and a general sense of economic uncertainty.

Furthermore, 91 per cent of UK homeowners have no intention of moving house, a situation which may push rental demand up further as no new properties become available on the market.

Commenting on these latest findings, Darryl Bowman, director of Credit Expert, stated: "With consumer confidence in borrowing dropping two points in the last quarter amidst concerns of an economic downturn, it's understandable that people are feeling that home-ownership is out of their grasp or that they should be ploughing money into home improvements rather than moving."

At the same time Firstrung has suggested that the rental sector will continue to attract professionals, claiming that "new buyers simply cannot afford to buy properties in the current UK market". ADNFCR-1219-ID-18487556-ADNFCR

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