More than half of tenants would move, or consider moving, to a different town or city in order to buy a home, according to a new survey of private renters.
The poll from the National Landlords Association (NLA), found that just over a quarter of tenants (27 per cent) would relocate in order to buy a house, and a further three in ten (29 per cent) would consider doing so. However, 44 per cent said they would not move to another town or city even if it meant being able to afford to buy their own place.
The poll revealed people in Yorkshire to be slightly more keen on staying put than the national average; 27 per cent would relocate and 23 per cent would consider it, but 50 per cent would not.
Tenants in London were most open to the idea, with 87 per cent saying they would relocate or consider relocating. Tenants in the East Midlands were least receptive to the idea, with just 14 per cent willing to relocate. The research also shows that 47 per cent those surveyed said they were unable to afford a deposit for a new home, with a fifth (22 per cent) unable to access mortgage finance to buy. The findings come as the latest English Housing Survey shows that more private rented homes now meet the Decent Homes Standard than ever before.
Richard Lambert, CEO of the NLA, said: “Homeownership is out of reach for so many people, so the idea of upping sticks and moving to a new town or city in order to buy their own home is becoming more and more appealing.
“In the meantime, the private rented sector remains a key part of the UK’s housing mix and it’s essential that tenants can rely on it. The latest findings from the government are encouraging but more must be done to improve conditions for the minority of tenants who have a bad experience of renting privately”.