Pessimism has descended on the legions of tenants across the country, a new survey has revealed with around half of them cynical about their chances of owning a home. I Am The Agent, the leading online estate agent, recently conducted a survey to find out about tenants’ attitudes to renting, and around 50% of respondents revealed they were very pessimistic about their chances of finally getting on the property ladder – with most of them citing the incredible price of owning a home as the deciding factor.

Many are predicting that the outlook will continue to be fairly bleak: Nationwide building society have forecast that house prices will rise until the end of the year, soaring by an estimated 9.5% by the time 2014 draws to a close. But others are more optimistic about the outlook, with Rightmove demonstrating that asking prices fell by 2.9% in August alone – the biggest fall the property portal has ever recorded for that month. It seems fair to say that the future looks fairly mixed for tenants hoping to get onto the property ladder.

Rebecca Peach, Founder and Director of I Am The Agent, which offers fixed-fee packages for anyone wanting to sell a property online, says, “Our survey shows real negativity and resignation among many of ‘Generation Rent’ who have always dreamed of owning their own home. Deposits on properties are hard to save for when paying high rental costs, and interest rates are sure to rise over the coming years after being at rock bottom for a while. The overall outlook is fairly bleak for low-income renters, but with Rightmove showing a real drop in asking prices, there could be a bright spot on the horizon for them in the future.”

I Am The Agent’s ethos is to abolish costly agent fees and assist tenants in getting that all-important foot on the property ladder. Those selling through the fixed-fee estate agency save an average of £7,700 compared to those using average estate agents – and that’s money that could really help first-time buyers when it comes to saving up for mortgage repayments.

Not being on the property ladder turned out to be the biggest gripe for the tenants who responded to the I Am The Agent survey. Many of the respondents expressed frustration that they were spending a lot of money but seeing no return over the long-term. Negative sides to renting also included high agency fees and not being able to personalise a property, making it feel more like home. 

But it wasn’t all doom and gloom for the respondents. There are many benefits to renting, and one of the key advantages noted by I Am The Agent’s tenants was the fact that renting is a short-term solution. There are no ties to a property, which is essential in such a volatile jobs market, where people may need to move around the country looking for employment. Landlords also have responsibility for maintenance and repair, which many respondents stated was a real bonus when renting a property.