Rental demand 'outstrips' home ownership

by Daniel Jones

There has been a rise in the number of people going in search of tenancy agreements rather than opting to purchase their own home, new statistics show.

At present, twice the number of people in the UK are renting in comparison to having their own property, Endsleigh found.

The majority of renters are in the 16 to 50 age bracket, with many of them saying that they like the flexibility of being able to move from one home to another.

Carlos Thompson, Endsleigh's head of business development, said: "Whilst more properties means more choice, the surge in renting means there can be fierce competition in applying for a property."

She urged people to ensure they stay within their means when signing for a property and not to choose somewhere they would not ordinarily decide to live.

The group also called upon landlords to make sure they are providing tenants with a service that is good value for money.

Published on: August 31, 2011

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