Within a generation, there may be more renters in the UK than home owners.
This is according to independent research carried out for the UK’s largest listed landlord, Grainger, by Brunswick.
The Brunswick Research project questioned 2,220 members of the general public and found that 54% expect that in 15 years’ time there will be more people in the UK renting than owning their homes.
Findings also suggests that the stigma associated with renting is disappearing, with only 31% of respondents believing that opportunities for first-time buyers will improve over the next few years.
Nick Jopling, executive property director of 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 there are simply too few homes for demand.”
Grainger said the Government should do more to back the private rented sector.
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