UK rental sector to grow as continental attitude sets in

28 2008
Landlords have been advised to expect steady rental returns over the coming years as tenant demand remains strong across all regions of the UK.

According to the estate agency Savills, the number of Britons now looking to purchase their own property shortly after starting their career has been "watered down" due to rising prices and uncertainty over the future of the economy.

Furthermore, the firm has also cited recent statistics which show that the average time being spent in rental accommodation by would-be buyers is steadily increasing.

Jacqui Daly, a director at Savills explained that the UK is increasingly becoming more like continental Europe when it comes to attitudes towards renting, with many more professionals now happy to stay as tenants and saving their money in a bank rather than struggling to get onto the property ladder.

"In Germany they don't choose to be owner occupiers," she explained.

"Historically they have been better off renting and taking subsidies from the government, putting their money in the bank than actually buying a house."ADNFCR-1219-ID-18487559-ADNFCR

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