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Tenants who can't afford to buy squeezed by rising rents

22 November 2010
Written by rosalind renshaw

Four in ten tenants believe rents will be higher in 12 months’ time.

A Rightmove survey of 2,636 current and prospective tenants also shows that 55% of tenants would like to buy a home now, but cannot afford to do so. Only 13% said they had no interest in home ownership.

Meanwhile, with rental stock down 23% compared with a year ago, Rightmove says there is chance of a let-up in rent rises.

Commercial director Miles Shipside said that are cases of gazumping in some areas, and he described some tenants as “trapped renters”.

He said they were unable to get on the housing ladder because of high deposits and credit scoring criteria.

The survey shows that one in three tenants plan to stay in rented accommodation for at least three years.

Comments

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    Rents are soaring locally but I would far rather keep a good tenant on a reasonable rent than risk losing them.

    • 23 November 2010 17:41 PM
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    Okay, so rents rising, prices falling and no FTB’s in sight as they are all in the ‘tenant’ category.

    The HPC boys all sitting in rented refusing to buy until prices have fallen by at least 900%.......................you know what, I think the BTL market could be back on, great yields, massive tenant demand and plenty of choice.

    If im right on this and lets be honest im probably not as I don’t think there is a person alive that has called anything right on this market, but, if I am then the BTL landlords that would cash in on this might become the new FTB’s.

    ………………as I say im probably wrong but seems to have some sense in it

    Jonnie

    • 23 November 2010 09:51 AM
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