Due to the rising cost of living, more prospective homeowners are turning to the private rental sector

LONDON: A survey of more than 2000 persons who now reside in privately leased homes found that 35% are actively saving to buy a home and 73% are saving for a down payment. (Reported by news source)

56% of respondents indicated decreased optimism in their ability to save for a deposit when asked to examine the influence of the cost-of-living issue on a variety of various financial behaviors, either by saying that they are only slightly confident or not at all.

One in ten of those who fear their capacity to raise a deposit will be affected anticipate to buy a property within the next six to twelve months, compared to 28% of those who are confident in their ability to do so.

The study also revealed that the most typical deposit size is 10%, which 37% of buyers intend to contribute. The remaining 4% are currently buying a property, while 23% already have the down payment.