Being a homeowner 'increasingly unrealistic'
Fewer young people are finding that buying a home is a realistic option, as the number of Britons in their twenties choose to rent a property instead, new research has found.
Indeed, according to a survey by Spareroom.co.uk, the average age of those renting accommodation has risen, from 25 years old in 2006 to 28 years in 2009.
Such research may prompt young Britons to look for flats to rent in Notting Hill or another part of London, which they could find is a cheaper option than buying a home.
Commenting on the research, Steven Hilton, spokesperson for the National Landlords Association, said: "The reality is that being a homeowner for an increasing number of younger people is an unrealistic expectation nowadays."
He explained that a lack of affordable mortgages was the key factor preventing people from buying a home and that rented accommodation provided "flexibility" to those who did not wish to make such a long-term investment.
Written by Chris Price
Published 14th October, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
For many young people in the UK, becoming a homeowner is an increasingly unrealistic option, it has been said.