Are Renters Interested in Buying?

Do you rent your home? Would you like to buy it? If so, you’re in the minority. A survey by Landbay found that only 42% of private tenants are interested in homeownership.

Older Renters Are Less Interested in Buying

The survey reveals that older renters are the least likely to want to buy a home. Only 1 in 8 renters over 55 plan to purchase property. However, interest rises among younger age groups, with 46% of renters aged 35-44 and 66% of millennials (25-34) expressing a desire to buy.

A Gender Disparity in Homeownership Aspirations

Homeownership ambitions also vary by gender. While 47% of women across all age groups want to buy a home, only 34% of men share the same goal.

Regional Differences in Homeownership Plans

Interest in buying differs across the UK. The highest demand is in London (48%) and Northern Ireland (47%), while the lowest is in the South West and Wales (37%), despite relatively lower property prices in these areas.

Why Do Many Tenants Prefer to Rent?

The main reason tenants choose to rent is flexibility. Renting allows people to move freely without the financial and logistical burdens of homeownership. In fact, 1 in 4 tenants with no plans to buy cite flexibility as their primary reason for renting.

The Future of Renting and Housing Development

As employment patterns shift and demand for flexible living increases, the rental market must continue to evolve. Future government policies should:

• Encourage flexibility in renting
• Promote build-to-rent developments for all age groups
• Support town and city centre regeneration through mixed-use developments

High-quality, affordable rental housing can revitalize urban areas, benefiting tenants, landlords, and local communities alike.