22nd
Jul 2016
A recent poll claims that many tenants who are attempting to save up for a deposit to enter the housing ladder are willing to live in areas that are not their preferred choice, however they do accept that they will have to do this achieve their first step into the housing market.
The poll was conducted with 921 private renters and claims that over 50% of those tenants who are hoping to buy their first home, fully accept that they may not be able to afford a home in the town or city that they are currently living in, and are prepared to move elsewhere where properties are more affordable.
The research states that 27% of tenants had no qualms in moving to another area to buy a house and 29% would certainly think about the option. Just under half of the tenants (44%) were adamant that they would not move from their present area in order to buy a home.
Those tenants that live in the Capital, 87%, were the most open to the idea of moving out of the city to buy their first home. However only 14% of East Midlands’ tenants polled would contemplate living elsewhere.
The research also shows that 47% of those surveyed would not be able to save for a deposit and 22% are unable to access mortgage finance to buy.
The latest English Housing Survey shows that more and more private rented ‘homes’ meet the decent homes standard and are ever increasing, as there are more energy efficient properties and a downturn in numbers of overcrowded properties.
An association spokesperson 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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