Older Brits switching to renting

07 2008
Growing numbers of professionals across the UK are opting to sell their properties and rent for a while, it has emerged.

With experts widely predicting that property prices in most areas have now peaked, some homeowners are looking to cash in on their equity and move into the rental accommodation sector, largely for lifestyle reasons.

In a new report in the Daily Telegraph, a 41-year old commercial artist told how he is selling his home in the country in order to rent an alternative property nearer to his college and his daughter's nursery.

"Renting won't be cheaper but I will be emotionally free," Bill Stevenson said.

"I am not worried about losing my stake in the market even though agents, family members and financial advisers tell me to be. I believe in what I am doing and I don't want to be afraid any more."

In addition, increasing numbers of older Britons are also renting a flat to use as a UK base while also buying a property abroad, the newspaper also reported, as the rental market expands to include more than simply students and young professionals. ADNFCR-1219-ID-18415684-ADNFCR

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