Attitudes shifting over property ownership
Brits are no longer obsessed with aspirations to own property and are content with renting for longer periods, it had been claimed.
Leading global real estate provider Savills said that letting from an Estate Agent or private landlord is increasingly being seen as the ideal solution for recent graduates and young professionals.
"The tradition of going from education to full-time employment to getting on the property ladder has been watered down," commented Savills spokesperson Jacqui Daly.
She added that more and more people now regard taking out a mortgage as a "burden" that they would be better off without.
"Demand for rented housing is large indeed," Ms Daly concluded. "Much larger than it was in the past where you might have rented while you were at university and gone straight into owner occupation."
A recent survey by loan provider GE Money Home Lending found that the age of the average first-time buyer in the UK is 34 - a figure that has risen by six years since the late 1970s.
Published 28th February, 2008
© 2008 Estates IT Limited
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Brits are no longer obsessed with aspirations to own property and are content with renting for longer periods, it had been claimed.