12.5% of UK renters can afford to buy a home in their current area, per Skipton Building Society study.
A recent study by Skipton Building Society, using data from Oxford Economics, suggests that only 12.5% of UK renters can afford to buy a home in the area they currently reside. High rental costs, bills, and house prices contribute to the affordability block for first-time buyers. Renters are four times less likely to purchase a home than current homeowners. The situation is particularly challenging for those in the West Midlands, Wales, and London.
July 21, 2024
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