We could become a nation of renters

25 January 2010

Despite valiantly fighting off the mighty euro are we becoming more European in our habits and mentality?

We are constantly influenced by other nations and cultures. Words and phrases such as pain au chocolat, café latte, aficionado and even doppelganger are now part of our everyday language.

But I wonder if we are also beginning to adopt European habits in terms of no longer regarding our homes as our castles and becoming more comfortable with the idea of long-term renting.

According to research from Unbiased.co.uk this may be the case.

The research reveals that 1.75 million home owners would consider selling their home and renting because of the housing market crash. In addition, almost a third of those who already rent believe that with the recent volatility in the housing market renting gives them more freedom and is less hassle than owning a home.

More than one in 10 say they no longer aspire to the status symbol of owning a home, while just over one in 10 renters say the property crash has not put them off buying.

So could this be the decade when we see a fundamental shift in the way consumers view property, with many preferring long-term renting to buying?

As many buy-to-let lenders on the periphery of the market are beginning to realise, we appear to be heading in that direction.

Let’s hope this year will see these lenders secure the funding to meet increasing demand.

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