Insurance News Archive

Street poll reveals majority looking to rent

People in one of the largest cities in the UK have indicated that they are more likely to rent during in the current economic climate, research shows.

In a street poll of Leeds residents, Adfero found that 58 per cent said they would be looking to enter a tenancy rather than a mortgage contract.

"Maybe someday [I will purchase a house], but not right now. Rent is all I can afford," said one respondent.

Another added: "There's no way I could afford to take on a mortgage at the moment, as much as I would like to."

Many said that while they feel it is a good time to buy, they are not in the financial position to do so and so are looking at rental options instead.

However, some were against the idea, saying they preferred to save up a deposit in order to be able to purchase a property in the near future.

27 Feb 2009