UK homeowners 'considering move to rental market'

News Category: Industry News

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Landlords and letting agents have been told that many property owners in the UK are now considering selling off their homes and moving into rented accomodation.

According to research carried out by professional advice website Unbiased.co.uk, around 1.75 million British householders are thinking about making such a move.

The survey also found that current tenants living in privately rented properties appear to have little desire to purchase their own home, with only 13 per cent saying they had not been put off buying by the slump in housing prices over the past two years.

Karen Barrett, chief executive of Unbiased.co.uk, said: "While there are mixed messages as to whether house prices are now starting to rise again, it is clear that the property market crash has had a profound effect on the way people view their homes."

A recent survey of buy-to-let landlords also revealed that confidence is growing about the state of the private rented sector.

The Young Index survey stated that 99 per cent of investors plan to hold on to their current assets until at least the end of 2010, reported E1 News.

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