Scottish tenants least likely to move elsewhere to buy a home

Scots struggling to get on the property ladder are the least likely in the UK to move to a different town or city in order to buy a home, new research has shown.
By The Newsroom
Published 22nd Jul 2016, 11:34 BST
Updated 25th Aug 2016, 18:34 BST

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Scots renters are the least likely in the UK to relocate to a new town or city. Picture: John Devlin/TSPLScots renters are the least likely in the UK to relocate to a new town or city. Picture: John Devlin/TSPL
Scots renters are the least likely in the UK to relocate to a new town or city. Picture: John Devlin/TSPL

Just 11 per cent of private renters in Scotland would be prepared to “up sticks” in order to realise their home-owning dreams, according to the National Landlords Association.

It was the lowest rate in the UK compared to 40 per cent in London and the south east of England, 30 per cent in the north east of England and 20 per cent in Wales.

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Just over half of Scots currently renting (54 per cent) said they would not consider moving town or city to buy a home.

However, it may not be completely ruled out for many with 35 per cent of tenants saying they would consider a move if it meant they could get on the property ladder.

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The quarterly also found that almost half of those surveyed (47 per cent) said they were unable to afford a deposit for a new home, with a fifth (22 per cent) unable to access mortgage finance to buy.

Richard Lambert, CEO of NLA, said for many relocation was becoming more appealing given that home ownership was increasingly out of reach for many.

However, he added: “Relocating is never an easy decision to make as it will often involve leaving behind friends and family. Then there are all the other considerations, not least whether you’ll be able to find the employment to make a move possible.”

Separate figures from the Scottish Household Survey show that 14 per cent of properties in Scotland are privately rented with 24 per cent socially rented.

Most Scots live in their own homes with 60 per cent of residential properties classed as privately owned.

Further research by Paragon Mortgages, published last year, found that private renting was no longer seen as the “last resort” in Scotland and was now often the “tenure of choice”.

Edinburgh has the highest proportion of private rented accommodation in Scotland, it found.

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Related topics:EdinburghEnglandLondonWales