25 Sep 2018

Homeowners vs renters: who is more optimistic?

Homeowners vs renters: who is more optimistic?

There is a big gap between the optimism of Britain's homeowners and renters, according to Lloyds Bank.

Its latest spending power report found that 51% of property owners feel positive about the current level of inflation, against just 36% of renters. 

Homeowners are also more confident with the UK’s employment situation (60% vs 44%), the country's financial situation (43% vs 35%) and the housing market (49% vs 30%).

The bank's report also discovered that, while only 40% of the population have confidence in Britain's  finances, a clear majority of 66% feel their own finances are in order.

Almost half of people lack confidence in the UK’s current employment situation, yet 81% are comfortable with their own job security. 

Likewise, 54% report a gloomy outlook on inflation - which would normally indicate a potential squeeze on spending, however four in five report having disposable income after bills and essentials have been paid for.

More than two-thirds of people feel they either have the same amount or more disposable income than they did at the start of 2018. 

And it is millennials who are most likely to report the increase in spare change - with 30% of those between 18 and 24 experiencing an increase in disposable income since the start of the year (vs 27% of 25-34s, 15% of 35-44s and 11% of 45-64s). 

Robin Bulloch, managing director of Lloyds Bank, said:

“During this heightened period of economic uncertainty in the UK, it’s understandable that many will err on the side of caution when considering the future of the country’s finances.
“Therefore, the optimism and resilience shown by people in their own finances is great to see. This demonstrates that people are really taking control of their finances and effectively managing their money.” 

Lloyds’ analysis of its own internal data has shown consumers’ essential spend has increased 3% since last July. 

This has mainly been driven by people spending nearly 3% more on groceries and a 10% rise in fuel spend reflecting recent sharp rises in pump prices.

Please correct the errors below before submitting your request:

Get in touch

Our dedicated client contact team prefer to receive enquiries through our contact form. We'll endeavour to get back to you within 24 hours or during the course of the next working day.

Tick this box if you wish to receive news and offers from Aberdein Considine. By doing, you indicate your consent to receiving targeted email marketing messages from us. On each occasion that we contact you in the future, you will be given the option to opt-out from receiving such messages. You may also email marketing@acandco.com at any time to opt-out.

The personal information that you provide to us in this form will only ever be used by Aberdein Considine (as the Data Controller) for the following specifically defined purposes:

  • email you content that you have requested from us
  • with your consent, occasionally email you with targeted information regarding our service offerings
  • continually honour any opt-out request you submit in the future
  • comply with any of our legal and/or regulatory obligations