Some 96 per cent of those living in privately rented properties currently “dream of owning a home someday”, according to new research released by Rightmove.
Despite affordability problems, 70 per cent of Britons surveyed said they will never stop trying to make their dream a reality.
However, the recent government Help to Buy mortgage policy might allow this to become a reality.
Under the new programme, tenants will be able to put down five per cent of the value of a new propert as a deposit and access a cheaper 75 per cent mortgage – with the 20 per cent gap covered by the taxpayer.
Miles Shipside, Rightmove director and housing market analyst, said: “The traditional British love affair with property ownership seems as strong as ever and today’s tenants are so committed to realising their dream of homeownership that most say they’ll never concede defeat.”
This is good news for property developers in the UK, such as Redrow – which has recently reported healthy profits as the number of planned projects increased.
