Consumers ‘unsurprisingly’ renting property for longer
It is not surprising that people are renting property for longer periods of time than in years gone by, according to National Landlords Association (NLA) spokesperson Steve Hilton.
Reflecting on research conducted by Spareroom.co.uk, which found that the average age of a tenant in rental property has increased from 25 to 28 over the last three years, he claimed that the high deposits needed for mortgages dictate this trend.
However, Mr Hilton added that the NLA has long been aiming to ensure the private rented sector is not viewed as a second class way of living.
“Rental accommodation, when it is at its best, is providing flexibility for those people who choose that path,” he stated.
Spareroom.co.uk also found that the number of lodgers in the UK is at an all-time high at present, having increased by more than 67 per cent in the last 12 months.
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