13% vow never to buy!

December 2006

In a recent study conducted by Birmingham Midshires, it has become evident that some 13% of people living in the UK who are renting do not intend to buy their own home.

The main reason appears to be that they would prefer to live in their first choice of geographical location by renting, rather than buying in a second or third choice area. 

Yet these seemingly surprising findings are echoed by Manning Stainton Lettings in the Leeds area, with location being quoted as the most important factor when choosing where to rent a property.

Tim Hague, Managing Director of Mortgages at the Birmingham Midshires Group explains: "Recent house price growth has been well documented, so it is hardly surprising that many people believe they will struggle to buy. 

However, the findings reveal an interesting trend – people are actually making a conscious decision to rent rather than to buy."

Manning Stainton Lettings believes that this trend is set to hold and is already experiencing unprecedented demand for good quality properties in a prime areas. So the old adage about Location, Location, Location is once again true!