Saturday 21 September 2019

Most renters believe that they will never own a permanent home

 

Fergal McGrath: Move by ICS to put pressure on bank rates. Photo: Stock Image
Fergal McGrath: Move by ICS to put pressure on bank rates. Photo: Stock Image
Charlie Weston

Charlie Weston

The majority of renters are pessimistic about being able to afford a home.

A survey of renters countrywide found that seven out of 10 believe they will never be able to afford to buy a property.

Large numbers also worry about being able to afford the rent, such have been the increases in the cost of accommodation lately, according to the survey commissioned by Taxback.com.

Nine out of 10 of those who rent said they worry to varying degrees about being able to meet their monthly repayments.

Affordability has become a major issue, as rents are so high people are struggling to pay, and the monthly cost is such a drain that young couples are unable to save for a deposit in order to buy a property.

Irish Independent

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