30% of tenants don’t want to buy a house

Published: 29/04/2013

Nearly a third of tenants are happy renting property and are not trying to buy their own home, according to online letting agents, Upad.

There is a general belief that all tenants are desperate to have their own house but are hindered by large deposits and a lack of mortgage availability.

However this latest research demonstrates many are renting by choice and enjoy the freedom which it offers. Many also like the financial benefits of being able to rely on a landlord to fix any problems.

The survey also revealed 39 per cent of tenants expect to rent for a further three years.

GW LET lawyer, John Jones, comments:

“These latest figures are great news for landlords as they contradict the overriding assumption that tenants plan to jump ship as soon as they have saved enough for a deposit for their own home.

“With regular bulletins surrounding the difficulties faced by first time buyers we forget that there are a significant number of tenants who prefer the independence of renting and who do not wish to be tied down to the ongoing financial commitment of having your own property.”

Content correct at time of publication