Over 90% of tenants in the UK don’t think they will be able to afford a property as rents continue to escalate and property prices stay firmly out of their reach.
The study shows that just 7.5% of tenants feel confident that they will be able to afford to buy their own property in the future despite the government’s recent initiatives like the Help to Buy scheme, the stamp duty changes and the recent Budget announcement on ISA savings.
Indeed, according to the research from Property Let By Us, two thirds of tenants believe the government is still not doing enough to help them onto the property ladder.
A further 62% of tenants aspire to owning their own home but a massive 87% of tenants feel trapped in their rental accommodation.
‘These stats show that many tenants are still unable to afford to buy a property and believe more should be done to help them,’ said Jane Morris, managing director of Property Let By Us
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