Generation Rent are more reliant than ever on the PRSMake Text Bigger
A survey carried out by LetBritain of 2000 UK adults shows that 39% are financial unable to purchase the home they would like and are reliant on the Private Rental Sector (PRS) to meet their needs.
In London this jumps to a whopping 49% who are unable to purchase, because of the disparity in house prices.
In a bizarre twist opposed to government policy, 27% of adults renting said they were looking to purchase a Buy to Let property to get on the housing ladder. In London 42% of renters said they would consider purchasing a Buy to Let in more affordable areas of the country.
61% of those surveyed said they blamed the government for not doing enough to help Generation Rent and 64% said they could only see the situation getting worse in the next five years.
LetBritain CEO, Fareed Nabir, added “With more and more people across the UK coming to rely on the private rental sector, the results of the research are concerning. Whilst many renters are working hard to enter the property market, they clearly do not feel the government understands the issues faced by tenants.”
“Interestingly, the findings show that Generation Rent is now increasingly looking to buy properties outside of their chosen place of residence so they can still get onto the property ladder without having to sacrifice the location or quality of the property they wish to live in.”
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