Did you know that 58% of renters fully intend to buy?
Thu, Feb 21, 2019
Renters aspire to homeownership
Much has been written about the rise in the number of people renting rather than buying their home but, according to the latest English Housing Survey (EHS), 58% of renters fully intend to buy.
This is good news for anyone feeling the effects of low transaction volumes, a homeowner hoping to sell, or move up the housing ladder, or any of the various traders and suppliers involved in the home-moving process.
Of those currently renting who intend to buy, 26.5% plan to do so within the next two years, according to the survey. That’s a potential 641,000 brand new buyers, or 320,000 per annum – which would be a healthy boost to the 2018 total of approximately 800,000 sales in England. And, these renters are thinking ahead. Over 40% of them anticipate renting for another five years or more, but buying remains the aspiration for the majority of renters.
Our local branch network supports both sales and lettings, by having this strucured approach we can support our tenants in the search for their first home, and can even help them in sourcing the best mortgage deals available. We can quickly identify properties that suit their requirements, often before they are made available online leading to a quicker sale - ensuring happy tenants and vendors.