21 Jan

Renting homes 'increasingly popular' in UK

Renting homes 'increasingly popular' in UK

Brits are beginning to turn away from property for sale in favour of flats and houses to rent in the UK.

Seven in ten (71 per cent) landlords said believe renting is more popular now than it was in 2009, according to the Association of Residential Letting Agents (Arla).

In addition, 67.2 per cent of landlords questioned felt that people still prefer to rent because finding a home to buy is proving difficult.

Arla operations manager Ian Potter said: "Our research suggests that, while more and more people seem to be renting post-recession, for many this is through need rather than choice - a trend that will likely continue as long as the demand for homes outstrips supply."

Renting will "become the norm" for more and more people, with the average age to buy a home now reported to be 35, he added.

However, first-time buyers looking for their first home could benefit from low house prices.

The Halifax House Price Index showed house prices in December fell by 1.3 per cent.ADNFCR-1222-ID-800357403-ADNFCR

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