Less people choosing to buy in the UK, survey reveals
Fewer people are opting to buy their own houses, which may lead to increased numbers looking for property to rent in Shoreditch, among other places.
A variety of factors have led to this trend, according to the National Association of Estate Agents (NAEA).
These include the economic downturn, high property prices and limits on mortgage lending.
Some 30 per cent of people in Cardiff, 27.7 per cent in Manchester and 25 per cent in Brighton said they would rather not own a house.
In London, this figure stood at 11.1 per cent and as a result people may choose to rent a flat in Shoreditch or a variety of other locations instead.
Commenting on the results, Peter Bolton King, chief executive of the NAEA, said: "The recession has left many people feeling that they cannot get onto the property ladder."
A recent report from the Town and Country Planning Association put forward suggestions about the UK's housing market, including a recommendation to increase support for the private rental sector.
Written by Martyn Glynn
Published 6th October, 2009
© 2009 Estates IT Limited
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Less people are choosing to buy houses, it has been revealed.<br/>