Brits renting for longer as buying remains out-of-reach |
05 2008 |
| The average age of Britons choosing to rent a property as they would otherwise struggle to buy a place of their own, is steadily increasing, new research suggests. Around 22 per cent of the first-time buyers polled in a recent study by Rightmove.co.uk were aged over 35, with a further 51 per cent aged between 25 and 34. Though a significant proportion of professionals have sacrificed their independence and are still living with their parents in order to save sufficient money to put a deposit down on a new home, 49 per cent of those questioned were renting, either on their own or with other people. In fact, many of these may be renting for the long-term as only 13 per cent said that they will probably receive financial help from their parents when it comes to attempting to get onto the property ladder. Furthermore, 38 per cent of those questioned said they felt property prices will continue to rise, while 23 per cent uncertain of the future, indicating that demand for rental accommodation across the UK will continue to be strong well into 2008 and beyond.  |
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