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Rental market set to boom as 5.5m Britons say 'we'll never own'

Rental market set to boom as  5.5m Britons say 'we'll never own'

Over 5.5m Britons think that they will never be able to own a home on the grounds of cost.

A survey of over 2,200 adults by the comparethemarket price comparison website found that 33 per cent believe that at no point in their lives will they own a property. This figure rises to 65 per cent amongst those already in the 45 to 54 year old age group and who do not currently own.

Of those who expect to be able to afford a place of their own at some point in the future, over a third think that they will have to partially rely on their family for financial support to purchase. 

Some 39 per cent of respondents who expect to be able to afford a home at some point said that the complexity of the buying process may persuade them to delay or put them off buying their first home. In addition, 44 per cent cited concerns over hidden and additional costs - and around 22 per cent were concerned about the responsibility of ownership. 

The survey was undertaken for the comparison site by polling firm YouGov; it questioned 6,619 adults, of which 2,253 have never owned a home. 

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