Tenants admit 'renting gives them more freedom'

Britons are increasingly adopting a more European mentality when it comes to home ownership, new research has found, with growing numbers of people now realising the benefits of renting.

Indeed, according to the survey by Unbiased.co.uk, over 1.75 million homeowners would not consider selling their property and renting due to the effects of the housing market crash.

Meanwhile, 31 per cent of renters asserted they had more freedom as they did not have to deal with the "hassle" of owning their own home.

Furthermore, 12 per cent of tenants admitted they did not aspire to the supposed status symbol of being homeowners.

Due to this, the group suggested Britons were now more akin to their European neighbours, who are also more likely to rent their homes.

Karen Barrett, chief executive of Unbiased.com, said: "While some [renters] still want to get on the property ladder despite the recent crash, many have now decided that the British status symbol of owning your own home no longer has the same importance."

Such news may prompt Britons to consider flats to rent in Eltham or another part of London, particularly after London Central Portfolio revealed property prices in the capital are likely to increase.

Written by Andy Britten

Published 5th January, 2010

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