A third of Brits are turning their back on home ownership — this is the surprising reason why
Could this spell the end of the property ladder?
Buying a house is considered to be one of life's big milestones. But according to the findings of new research, turning the key on a home to call your own is increasingly losing its lustre with the new generation of Brits.
If you still want to buy a home: First-time home buyer guide – how to get on the property ladder for the first time
The study from home interiors specialist Hillarys found that just over a third (35 per cent) of Brits would be happy to continue renting for the rest of their lives.
The top five reasons behind the decision to rent
1. I am able to move about freely – 39 per cent
2. Property prices are far too high – 27 per cent
3. I like not having to worry about repairs – 14 per cent
4. I’m not sure I would want to live anywhere permanently – 9 per cent
Get the Ideal Home Newsletter
Sign up to our newsletter for style and decor inspiration, house makeovers, project advice and more.
5. Buying a house is too stressful – 6 per cent
The majority of those in the study, 43 per cent, said they had rented for 6-10 years. Followed by 28 per cent renting for 0-5 years and 15 per cent for 11-15 years. With monthly rents averaging at £650.
When it comes to changes they want to see in the rental market, 97 per cent argued that there was room for improvement. Especially when it comes to renting rights in the UK.
91 per cent of survey participants said that landlords shouldn't be able to kick tenants out, unless they break the law.
89 per per cent also argued that landlords should be made to give ‘at least 6 months’ notice’ prior to eviction. While 63 per cent called for tenants to be given ‘first right of refusal’ if their landlord decides to put the home they're in up for sale.
'We hear so much about how more people have to rent long term because they can’t get on the property ladder, ' Tara Hall, spokesperson for Hillarys says of the increasing appeal of life as a long-term tenant. 'It’s interesting to see how many are actually happy with this.'
'Owning a property isn’t for everyone, especially if you like not being tied down or don’t want to spend months and months saving for huge deposits.'
Make savings: The cheapest times of year to make home improvements – from garden clearing to fitting a bathroom
Would you choose renting over buying?
-
How to set up a drip watering system that saves water and a lot of effort
Keep your plants hydrated (and your water bill down) with this clever garden watering solution
By Natalie Osborn
-
I unboxed the Ninja Slushi – here's what happened
The Ninja Slushi is the stuff of dreams for summer entertaining
By Molly Cleary
-
Should you invest in a pot filler or are they just a high-end kitchen fad? I asked kitchen experts whether they're set to be a trend beyond 2025
A high-low approach to kitchen design is the key to creating a stylish space in your budget
By Holly Cockburn