May 2015 - First Time Buyer Opinion Barometer
Tenants demand their own Minister as more are forced to rent for longer
- More than 60% of renters favour the appointment of a Minister with specific responsibility for tenants
- Tenants forced to defer purchasing their first property in increasing numbers, with only 11% expecting to buy by the end of the year, down from 13% a year ago
- However, the number of completed first-time buyer transactions grows 3% year-on-year in April
Tenants would overwhelmingly support appointing a Government Minister whose sole responsibility is tenancy issues, according to the latest First Time Buyer Opinion Barometer from Your Move.
When asked if they thought there should be a Minister with specific responsibility for tenants, 60.2% of respondents said ‘yes’, compared to only 14.9% who thought it was a bad idea.
The survey also reveals that renting is becoming a longer-term option for increasing numbers of people. When tenants were asked at what point in time they expect to become home-owners, only 11.2% now feel they will be able to get onto the ladder within the next year from April 2015, down from 13.4% in April 2014. Equally, 13.1% reply that they will probably never be able to own their own home, up from 11.0% twelve months ago.