Many left out in the cold as house prices continue to rise

House prices are increasing to such an extent that many middle-aged and young people are unable to afford property, and remain renting somewhere to live for a very long time. It is not just house prices that are preventing these people from buying a property and the restricted availability of mortgages has also meant many people are unable to purchase a home.

Unfortunately, there is also a great deal of dissatisfaction with rental options but these people who cannot buy a house have little other choice but to rent. This problem has been highlighted by a recent survey that has been conducted by Countrywide. The survey found that around half of young people said that the biggest reason they can’t buy house was because they were unaffordable.

Only 30 percent of those who responded to the survey said that they were happy renting accommodation and did not want to buy a house in the near future. The government have recognised this problem and have tried to introduce schemes that are designed to encourage people to purchase homes. These schemes are designed to stimulate the market which should also result in an improvement in the economy.

The desire to own a home is still something that many people aspire to in the UK, no matter what age they are. The general reason why people wish to purchase a home is because they are dissatisfied with their current living arrangements. Nearly 60 percent of those surveyed who are currently in rented accommodation said that the un-affordability of the deposit is the main reason why they can’t purchase their first home.

Many people are finding that simply because they cannot afford deposits, or mortgages in general, they are trapped in rented accommodation and are unable to make the first move onto the property market.