Brits 'increasingly choosing to rent'
A growing number of people are opting to rent accommodation rather than buy, an expert has noted.
Chris Brown, president of the National Association of Estate Agents, explained that Britons are increasingly choosing the option in the current economic climate.
"You're getting people who traditionally would never rent a house who are saying: 'Yeah let's have a look, let's rent a house'," he remarked.
According to Mr Brown, the difficulties of the housing market mean consumers recognise that there is "no immediate rush" to purchase property, as prices continue to fall.
And as those who are selling realise the benefits of renting, he observed that the sector is "doing very well".
Those hoping to live in London may prefer to rent rather than buy in order to avoid negative equity, with recent Land Registry figures showing that values are nearly 13 per cent below the level they were at one year ago.
Published 23rd February, 2009
© 2009 Estates IT Limited
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A growing number of people are opting to rent accommodation rather than buy, an expert has noted.