Renting Is Becoming Increasingly Popular, Says ARLA

Research by the Association of Residential Letting Agents (ARLA) shows that renting is becoming increasingly popular in the UK.

In an ARLA survey regarding the 4th quarter of 2010, 71% of landlords asked said they felt renting was more popular now than a year ago. In Q4 2009, the figure was just 35%.

And, when asked about attitudes to renting and whether consumers would rather buy than rent, the majority of respondents (67.2%) felt that people were being forced to rent – a slight drop on the previous quarter (71.6%), but still up on Q4 2009 (54.2%).

Ian Potter, operations manager of ARLA, commented: “Our research suggests that, while more and more people seem to be renting post-recession, for many this is through need rather than choice – a trend that will likely continue as long as the demand for homes outstrips supply. Further, with the average age to buy a first home now reported to be 35, it’s also possible that renting will become the norm for more people than ever before.”

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