Young Brits 'more open towards renting property'
www.moneynews.co.uk > Mortgages > Young Brits 'more open towards renting property'
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Young Brits 'more open towards renting property'
Fri 17th Jul 2009
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Partner relationship manager for address changing service iammoving.com Jon Brown said that younger generations are increasingly open to renting, recognising the flexibility and affordability it can offer them.
It can also take away the "burden" of a long-term commitment to paying a mortgage, as well as being tied down to one property forever, he added.
Mr Brown furthered: "The rise in the amount of young people going to university has also helped to cement the idea of shared accommodation and renting being a good option."
Research conducted by the National Housing and Planning Advice Unit earlier this month shows that nine out of ten people aged between 18 and 34 can not afford the average price for a first-time buyer's property.
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