A tenant survey conducted by an online letting agent suggests that almost nine out of 10 tenants are not currently looking to buy a home.

Some 87 per cent of survey respondents told Upad they were not interested in buying a property at present, with 13 per cent insisting they have no desire to ever own their own home.

Upad’s research also highlighted the increasing number of long-term tenants, with 40 per cent of tenants now having rented for over four years, while it was also found that over 20 per cent of tenants have owned a property previously.

Around a quarter said they rented because they could not afford a mortgage even if they wanted to buy; another quarter rented because it suited their work or education. One in eight rented because of relationship breakdowns.