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Long term property renting set to rise in the UK

RAY CLANCY Property Community
Long term renting has become a necessity for many Brits who cannot afford to buy

Long term renting has become a necessity for many Brits who cannot afford to buy


Millions of Britons are resigning themselves to the possibility of never owning their own home as they become more comfortable with the prospect of long term renting, according to new research.



It is good news for property landlords as the survey from property portal FindaProperty found that 38% said that owning a property is not critical and 26% said they have no issue with the prospect of long term renting.

It also found that half of the respondents don’t expect to buy a home until they are aged 40 or over.

Despite rental prices reaching an average £890 per month at the end of last year, the highest level ever recorded by FindaProperty, only 54% of those surveyed said that purchasing their own home was very important to them.

Indeed, renting is still a necessity for more than half of all respondents. Some 61% said they do so because they cannot afford to buy a home at all. But a significant number say they choose to rent for lifestyle reasons.


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