SOARING numbers of people in south Essex are turning to rented accommodation instead of buying their own homes, according to a new report.

Over the past 12 months estate agent Balgores has seen a 68 per cent increase in the number of renters looking to snap up properties in Basildon.

Countywide, there has been an average 36 per cent rise.

Sasha Reynolds, a rental negotiator for estate agent Haart, which has branches in Basildon, Southend and Canvey, believes more people are turning to renting after struggling to save for a mortgage deposit.

Miss Reynolds, who works in Haart’s Rayleigh office, in Eastwood Road, said: “In the past year there have been a lot more rental enquiries.

“When you buy a house you have to get such a big deposit together but when you are renting you only need to get that initial deposit together and then you should get it back too.

“It’s also a quicker process than buying a house. We have had more rental enquiries for places like Rayleigh and Benfleet which are normally buyers areas; renters usually look to be near everything in Southend of Basildon but we have had an increase in those areas.”

Howard Lester, director of Balgores Property Group, which conducted the study, added: “The bottom line is that tenants face ever rising house prices and stagnating wages and the rental market provides good stable homes to live in.

“In fact, rental property now provides almost 50 per cent of the total housing stock in the UK.”

Balgores, which has a branch in Southernhay, Basildon, also reported a sharp rise in the number of landlords registering rental properties- with a 48 per cent increase across the borough.

Specific figures were unavailable for Southend, Rochford and Castle Point.

Renter Dave Murray, from campaign group Basildon Against the Cuts, believes most tenants do not have the finances available to even consider buying their own homes.

He said: “I find it hard to believe most people rent out of choice. I’m sure there are some people, but given the lack of affordable housing I expect many people are forced to rent.

“The only way to alleviate such high demand is to build more affordable housing stock and use existing empty buildings for living spaces.”