The number of people renting property could exceed the number of homeowners by 2026, says a survey by private landlords Grainger.
Some 67 per cent of respondents said that they felt long-term rental was becoming the common choice for most people, while 54 per cent added they expected there to be more renters than owners in 15 years time.
In addition, 49 per cent said that they do not feel any pressure or rush to purchase a property and 40 per cent stated that some time in a rented home was an important step in them deciding on how they would move forward on the property ladder.
Nick Jopling, executive property director at Grainger, said: "There is a new housing reality dawning on Britain: the financial crisis has tightened mortgage lending; house prices continue to be uncertain; and frankly there are simply too few homes for the demand."
Despite this the National Association of Estate Agents (NAEA) reported last month that the number of properties purchased by first-timers rose by two per cent in August this year.
First Time Property Buyers News
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