The young only want to rent
The majority of young people aged 18-30 are completely happy to rent and have no plans to own their own home according to a survey by ARLA the Association of Residential Letting Agents.
Over a third had rented three of four properties and confessed they enjoyed the independence from property ties and the flexibility to move around.
Interestingly 75% of young females were keen to make their own way in the world and either brought or rented accommodation whilst a significant proportion of young males preferred to stay in the family home.
Andrew Oulsnam commented “the research reveals a generation that want to be upwardly mobile and free from ties. Attitudes towards renting have changed in the UK and perhaps we are becoming more like our fellow Europeans who tend to rent rather than buy. Who can blame the young after what we have seen the property market do in the last 18 months?”