Debt worries could be the reason why the majority of renters do not expect to be able to buy a house in the next five years, according to a new report…
Debt worries could be the reason why the majority of renters do not expect to be able to buy a house in the next five years, according to a new report.
The research from Kensington shows 90 per cent of people are concerned about the growing difficulties facing first-time buyers.
Many believe that this will mean an increase in consumers looking for rental properties, with 68 per cent anticipating demand for lettings to rise.
Keith Street, head of the firm, believes such predictions are not good for those renting properties.
He said: “With a growing population and difficult outlook for first-time buyers, the strain on the private rental sector will increase.”
The report shows 7.98 million people are currently living in rented accommodation, which translates to 13 per cent of the population.
However, the government is aiming to help out those looking for properties, with housing minister Grant Shapps recently outlining plans to build more homes in the coming years.
By James Perkins