Two out of every five tenants say they plan to remain in a rented home rather than buy property, the Deposit Protection Service has said.
In a survey of 1,000 tenants whose deposits are registered with the UK’s biggest provider, 38.4% told the DPS that they were not looking to buy a property and would instead continue to rent long term.
Of those hoping to live in their own property, 25.5% said they hoped to own within six months, although 62% said they did expect to within the next year.
Julian Foster, managing director of the DPS, said: “Renting is a vital part of the housing sector, and a significant proportion of the UK population choose to be tenants as it better suits their life plan or lifestyles.
“The UK needs a flexible residential sector that suits the varied life choices and priorities of our diverse population, and the rental sector plays an important role in providing people with real housing options.”
Suits their life plan?
If that means getting to retirement day and suddenly realising that you’re going to have keep forking out ever increasing rent out of a pension that’s next to nothing it doesn’t seem much of a life plan to me.
It’ll mean having to move to a much cheaper property ie in a c***y area just at the time when you’ll be spending more time in your chicken coop.
Generation rent is a time bomb waiting to explode.
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