Renting 'not housing's ugly sister'

Britons may be adopting a more European style mindset as the number of people choosing to rent a property, rather than take on a mortgage in order to fund buying a home, increases.

Recent research by the Association of Residential Letting Agents revealed this increase may in part be driven by more people who can no longer afford to pay their mortgage entering the rental market.

However, the National Landlords Association has claimed such an assertion could be misleading as many Britons simply prefer to rent.

"Renting is no longer the ugly sister of the property market. In fact, increasing numbers are attracted to renting, as a simpler, more flexible alternative to home ownership," said Simon Gordon, head of communications at the association.

He added "property savvy renters" today prefer not having to worry about being responsible for home maintenance or how they will make ends meet when interest rates impact on their mortgage payments.

Such may be the thinking of Britons looking for flats to rent in Notting Hill or another part of London, who could also choose to rent as property prices in the capital tend to be higher on average than the rest of the UK.

Written by Martyn Glynn

Published 25th January, 2010

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