'More Britons' choosing to rent
The right to buy property is losing its appeal to social housing tenants, it has been suggested, as more people make the decision to continue renting, rather than buying their home.
A recent survey by the government's Tenant Services Authority has found that just 12 per cent of the social housing tenants it surveyed had aspirations to buy their property through a Right to Buy scheme or the open market.
This is in comparison to the 32 per cent who had such ambitions ten years ago.
Indeed, 80 per cent of respondents felt that being a tenant was better than owning their own home.
Britons who are not in social housing but who cannot yet afford to buy a property may find that flats to rent in Shoreditch are a more affordable option, particularly as prices in London can be high and social housing places may be scarce.
And professionals may also prefer to rent property, after the Independent's Rhiannon Harries said people were increasingly choosing to rent rather than buy a home.
Written by Martyn Glynn
Published 23rd September, 2009
© 2009 Estates IT Limited
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Britons residing in social housing are increasingly choosing to rent their property, rather than buy.