Homeowners dropping off the ladder to rent |
28 2008 |
| Increasing numbers of UK homeowners are dropping off the property ladder and choosing to rent as the full impact of the global credit crunch hits home, a new study suggests. Around 14 per cent of those questioned said that concerns over their personal finances were causing them to think about moving back into the rental sector so as to free up some cash to cope with the rising cost of living. Furthermore, 32 per cent of those people questioned who were in the process of moving home stated that would consider renting if they could not find an ideal home to purchase straight away. Commenting on the findings, Simon Preston, chairman of the website iammoving.com, which carried out the study, stated: "You expect people to consider renting when the market is falling because there is a chance to make money, but 18 per cent is a high figure." The study also found that 16 per cent of those questioned were already renting a property.  |
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