Renters Say They Like the Flexibility
Specialist letting agents service provider Endsleigh has, this week, released figures which show that there are now twice as many people renting their home in the UK than those who own.
The statistics show that 45% of UK people or households now rent, while just 23% own their own home. Of those who are renting, almost all are aged between 16 and 50 and say they like the flexibility that renting gives them and the ability to move house when they need to.
In fact, 62% of renters are living in an area which is completely different to where they previously lived and many believe that there is more choice and better value for money available at the moment.
Despite the positives of renting, three out of five renters still say they want to buy their own home within the next five years.
Carlos Thompson from Endsleigh has said that there is increased supply of rental properties, but also an increase in the numbers of people who want to rent them. This has meant that some people are choosing properties they may not have previously chosen or they are paying more than they can afford.
Thompson also points out that the rise in renting has led to competition between agents. So, those people who have rental properties need to ensure they are getting the best service possible from their lettings agent.