More people looking for flats to rent in the short-term?
More people could be looking at flats to rent in the London borough of Sutton in the short-term, if the results of a new study are anything to go by.
Conducted by YouGov for the Council of Mortgage Lenders (CML), the research found many people do not want to buy their own property until further down the line.
A total of 76 per cent said they could not see themselves owning an abode until two years from now.
According to the organisation, this suggests there is a "much lower short-term appetite" among people aged between 18 and 24 to buy a house, especially because of the current affordability conditions.
Director-general of the CML Michael Coogan said: "Home-ownership levels are already falling and they will continue to fall."
He added that regulatory policies are making it increasingly difficult for consumers to get on the housing ladder.
These figures support the results of a recent Building Societies Association poll, which found 26 per cent of respondents do not think now is a good time to buy property.
Posted by Martyn Glynn
Published 17th September, 2010
© 2010 Estates IT Limited
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