73% of Millennials didn’t know the difference between a bank and building society, nearly half (48%) couldn’t name any advantage and a third (33%) stated that they could see no reason to use a building society.
That was according to research from online estate agents HouseSimple.com
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One bedroom flat in London costs the same as a six bed house
The data, which combines both private landlord and agency listings, found that 63.8% of renters who need to move want to do so less than one month after making their first enquiry.
In October 2017 the transaction count increased by 1.7% from September 2017 and by 9.2% compared to October 2016.
The number of challenger firms in the market – completing between 100 and 500 transactions per month – grew 54% from Q2 to Q3.
This would give an additional hand up, similar to the added fee imposed for second homeowners and buy-to-let landlords, but in the reverse.
There are now 11 house-hunters for every residential property up for sale in the UK.