More young people renting

News Category: Marketing

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The residential lettings market is becoming "very crowded" as more young Britons look to rent out accommodation, an expert has said.

According to Paul Sellers, housing policy adviser at the Trades Union Congress (TUC), many people are renting in the current economic climate because of the difficulties in getting a mortgage.

He said renting has become a "very crowded sector" for young Britons who are moving out of home for the first time.

Property software users might be able to take advantage of the rising demand for rented accommodation since the onset of the economic crisis.

Mr Seller's comments come after the TUC published a guide to finding property, entitled A Place to Live: A Guide to Housing Options for Young People.

"We found there was a demand for young people wanting to find out about housing … The guide covers all kinds of housing because a lot of young people are renting at the moment," he commented.

Most young Britons are choosing to rent when they leave home for the first time, the TUC guide, published earlier this month, noted.

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