UK Tenants prepared to stay in buy-to-let property

Demand for buy-to-let property is set to continue, almost half of non-homeowners in the UK believe they will never own their own property and continue to live in buy-to-let rental accommodation or stay with parents.

The research shows that 1.1 million people would consider moving abroad to own a property.

It is proving increasingly for difficult young people to get on the property ladder, with 23% of 18-24 year olds would be willing to move jobs or relocate somewhere else in the U.K to be a homeowner.

The research conducted by Santander also revealed that 30% of 18 to 24 year olds who do not currently own a home would use any inheritance they receive as a property deposit, while 11% would ask their parents to be guarantors to secure a mortgage.

As a result many people are opting to rent, and as many of these tenants consider renting to be a long-term resolution, buy-to-let property investments are increasingly sought after. The high property price rises that have led to many young people being unable to afford a deposit have generated strong capital growth, while the sheer demand for rental accommodation has driven sustained monthly yield increases.

Benson Court by Steve Cadman is licensed and edited under creative commons

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