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Half of Tenants Rent Because They Cannot Afford to Buy

Published: 08/11/2020

According to The Property Academy Tenant Survey 2020, just over half of tenants rent because they can’t afford to buy and almost half rent to suit their lifestyle.

Stepping onto the property ladder is hard and Covid-19 has added to this with stricter lending criteria. However, not everyone wants to buy, 14% of tenants do not want to buy and 19% do not plan on buying for more than three years.

There are many perks to renting, such as flexibility (12%), settling into a new area (10%) and the fact that all maintenance is taken care of for you (3%)

Personal circumstances such as divorce (5%), between buying and selling a home (2%), studying (3%) and age (6%) can also cause people to rent. Source: Dataloft, Property Academy (14,000 respondents)

Are you trying to find a new place to live, call Willmotts for property advice or information with selling and or buying a home please email sales@willmotts.com or call 020 8222 9958

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