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Renters growing less confident about ever buying a home

Related: How renting in London became an unimaginable hellscape

The number of renters actively saving for a house deposit plummeted to 17 per cent in July, a significant drop from 31 per cent at the start of the year, according to Barclays Property Insights.
This decline is largely attributed to escalating rental costs, with nearly two-thirds (62 per cent) of renters reporting or anticipating a rent increase this year.
The financial strain is also dampening home ownership aspirations, as only 12 per cent believe they can buy a home within the next year, and 37 per cent cannot afford one in their current or desired locations.
Around a quarter (26 per cent) of renters are struggling to afford their monthly payments, with nearly half (45 per cent) adjusting their spending habits to cover housing costs.
Common strategies for saving include reducing discretionary spending, cutting back on holidays, or generating additional income through side hustles.