Citizens in the United kingdom, are feeling left out the cold by their government, new research suggests, they believe that there is not enough being done to help those who wish to get a foothold on the UK property ladder with higher and higher numbers having no other option other than to rent in London to astronomical property prices, which are only going to increase.
Inflation on the rise, interest at all-time lows, savings diminishing and wage increases dead in the water has left a large proportion of the population feeling abandoned.
Some 67% of UK adults, 34.4 million people, have come to the conclusion that the Government does not have their finger on the pulse when it comes to the wants and needs of tenants and 49% in London can find a better home to rent than they could afford to buy.
Overall across the United Kingdom some 39% of people choose to rent so they can live in a better standard of property than they could have any hope of purchasing, according to a survey by virtual letting agency LetBritain.
Some 42% of citizens in London are ready to buy a less expensive home in another region of the country so they can get on the housing ladder and then let it out while renting in the capital.
The survey also found that 64% believe that it is going to become even more difficult for private rented sector tenants in the coming years.
‘With more and more people across the UK coming to rely on the private rental sector, the research is 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,’ said Fareed Nabir, chief executive officer of LetBritain.
‘Interestingly, the findings show that renters are 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,’ he added.
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