More people are renting, latest figures show |
06 2008 |
| A greater number of people in the UK are choosing to rent, it has been revealed. With the Bank of England choosing to keep interest rates on hold at 5.25 per cent this month, first-time buyers will no doubt be questioning the financial viability of climbing onto the first rung of the property ladder. This is borne out by the fact that a Royal Institution of Chartered Surveyors (Rics) survey shows 16 per cent more surveyors have reported a rise than a fall in demand for rented accommodation in the UK. What's more, Barry Hall, a spokesman for Rics, believes that current market conditions mean that the demand for rented accommodation is set to rise in the future. "While banks remain cautious about offering loans, demand for rental property will continue to increase with many would-be buyers unable to make the jump to home ownership," he commented. The popularity of accommodation with multiple bedrooms is outstripping that for single-bed flats, the survey also shows.  |
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