Renting 'to become more popular in UK property market'

Posted: 30 Jun 2010 11:40:32 GMT

The popularity of renting property in the UK is to rise, according to one industry practitioner.

Commenting on the issue, chief executive officer of Upad.co.uk James Davis said that the price of buying homes may put increasing numbers of people off.

This could be welcome news for landlords, who are likely to see increases in demand for their buy-to-let residences if the expert's prediction comes true.

He remarked: "It's becoming more financially astute to rent than purchase from an affordability perspective. 15 per cent of the UK population currently rent, which is expected to grow to more than 25 per cent over the next ten years."

Mr Davis went on to state that renting is the preferred form of tenure in many other countries.

For example, a quarter of French people do not own their dwellings and the same is true for 60 per cent of Germans.

His comments follow the release of research conducted by Easyroommate.co.uk, which suggested that the average cost of a rented room in a shared house stands at £348 a month.


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