New research has found that more than half of tenants would move or consider moving to a different town or city to get on the property ladder.
According to the National Landlords Association, over a quarter of tenants (27%) would relocate in order to buy a house, while a further three in 10 (29%) would consider doing so.
The poll found that 44% of tenants would not move to another town or city even if it meant being able to afford to buy their own place.
Renters in London were the most open to the idea, with 87% saying they would relocate or consider relocating in order to buy a home.
Meanwhile, tenants living in the East Midlands were the least receptive to the idea, with only 14% willing to relocate.
The research also revealed that nearly half of those questioned (47%) said they were unable to afford a deposit for a new home, with a fifth (22%) unable to access mortgage finance to buy.
The findings come as the latest English Housing Survey shows that more private rented homes now meet the decent homes standard than ever before.
Richard Lambert, CEO of the National Landlords Association, said that with homeownership out of reach for so many people the idea of upping sticks and moving to a new town or city to buy a home was becoming more appealing.
He said: “I think people are looking at the costs of buying, especially in high demand areas like London and the South East, and realising what they could get for their money elsewhere.
“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.
“In the meantime, the private rented sector remains a key part of the UK’s housing mix and it’s essential that tenants can rely on it. The latest findings from the government are encouraging but more must be done to improve conditions for the minority of tenants who have a bad experience of renting privately”.
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