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Posted by Mark Cunningham

An increasing number of Britons are now opting to rent a residential property as opposed to buying a new home, an expert has said.

According to James Davis, chief executive officer at Upad, the idea of owning a house is "diminishing" for many people in the aftermath of the worldwide economic slump, while plenty of consumers are now instead embracing the idea of looking to the buy-to-let sector for a suitable abode.

Mr Davis explained that there has been a "major shift" towards rental accommodation in the recent past, meaning that many landlords now have an opportunity to put their prices up on the grounds that "housing stock is not keeping pace with demand".

This is reflected in the fact hat Upad has seen a rise of 28 per cent in the number of tenant enquiries over the last six months.

Last week (March 21st 2011), Paragon published research showing that 32 per cent of all landlords increased their rental charges across their portfolios during the first quarter of the year.
 

28/03/2011 14:46