According to analysis by the Resolution Foundation, all the UK۪s major cities have shown a decline in levels of home ownership in recent years. While much of the blame can be placed on traditional causes, such as the rising cost of property and the difficulty in obtaining a mortgage, commentators have paid little attention to the possibility that many people, particularly those in the younger age group, may actually prefer to rent rather than buy.Renting offers young people the opportunity to get a feel for living in an area without making a long term commitment. Many are simply not be ready to take on the challenges of maintaining a property, preferring to leave the organisation to a landlord or management company. These days landlords are subject to much more stringent legislation, which means tenants today are likely to enjoy much better living conditions than those who rented a decade or more ago.If you are thinking about renting or buying in London, Daniel Cobb can offer advice on all your property concerns. We also offer a property management service for landlords that is second to none. Call us today or drop in to one of our offices, you۪ll find us in: Westminster, London Bridge and Kennington.
English home ownership has now fallen to levels last seen in 1986, despite Government efforts to revive it with schemes such as Help to Buy, which provides an equity loan and 5pc deposit. The shift to renting rather than ownership is taking place largely due to a lack of affordability.
http://www.telegraph.co.uk/property/house-prices/revealed-the-uk-city-where-home-ownership-has-fallen-the-fastest/
