Landlords can expect more renters to come into market

News Category: Industry News

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Landlords can expect to see increasing demand for rented accommodation in the next few years, a new government report indicates.

The Department for Communities and Local Government's Survey of English Housing says there has been nearly a three per cent drop in owner-occupied homes since 2003, reports the Financial Times.

Housing minister John Healey said there could be a shift in attitudes with Britons happier to rent rather than buy.

Mr Healey said, in a speech to the Fabian Society: "Some [people] point to the recession having shaken people's desire to invest in bricks and mortar. But in reality home ownership has been dropping since 2005. And I'm not sure that's such a bad thing."

The UK could move to a more European model of housing with renting more common than ownership in the future, Mr Healey added.
One in ten tenants no longer seek the status symbol of owning their own home, research by professional services advice website Unbiased.co.uk said last week.

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