8
Dec
Young renters boost buy to let market
Young people are likely to boost the buy
to let market after it was revealed that the majority will
continue to rent.
A survey conducted by MyVoucherCodes.co.uk reported yesterday
(December 7th 2010) that 77 per cent of young people who said they
would not buy a property claim they will always continue to rent
privately.
The discount website asked 1,721 people aged between 16 and
21-years-old their opinions on the current housing market.
It reported that 58 per cent believe they will never buy a
home.
Of this figure, 67 per cent said it was because they could not
afford the deposit required to get on the property ladder.
Last month, Nicholas Leeming, director of Zoopla, suggested that
high down payments act as a deterrent for many first-time
buyers.
This is likely to come as good news to buy
to let owners, as the steep fees could force people to remain
in the rental sector.
However, the report also found that 37 per cent of this majority
say they simply prefer the idea of renting a buy
to let property. 