Help to Buy: Boom or Bubble? Green Paper - October 2013
Does The Nation Prefer Buying or Renting? The buying versus renting debate is one that has gained momentum since the launch of the Help to Buy initiative, with many believing that we are turning into a nation of “renty-somethings”. The public response to our survey contradicts that view with more than half of the respondents citing, buying is a preferred option to renting. However, two in every five members of the public who were interviewed believe it is now more acceptable to rent permanently than in the past.
6%
40%
54%
The financial crash of 2008 seems to have impacted negatively on the public’s attitudes towards home buying; with half of those surveyed thinking that it is now more difficult to get a mortgage to buy a home. Furthermore, almost half now consider themselves less likely to have any money left to enjoy life once they have paid their basic living expenses. Despite this, it appears that people do still want to buy property – a third of those we surveyed already owned their homes outright; a further third owned their homes with a mortgage and the remainder rented.
6
Buying is better than renting
Agree (8-10) Neutral (4-7) Disagree (1-3)