2 Apr

Rental trend 'set to continue'

Rental trend 'set to continue'

Recent trends that have seen a growing number of people decide to rent and not buy property are likely to continue for the near future, it has been claimed.

Iammoving.com stated that the rental sector will remain "buoyant" for at least the next two years as homeowners sell and then opt to rent instead.

Chairman of the organisation Simon Preston remarked that nothing will change until confidence is restored in the market and people realise the direction house prices will go.

However, he contended that there is a natural urge from people to want to move in the long run and this is why the property market will be rejuvenated after a period of time.

"It's not a one or two-month blip but I would expect the market to come back some time over the next 12 months," he noted.

He added that the market may have been tightened in recent times as lenders restrict some of the products they previously offered.

A recent survey from Hiscox found that 40 per cent of younger people would move overseas in the attempt to get on the property ladder.ADNFCR-1222-ID-18533884-ADNFCR

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