Renting is fast becoming a new way of life in Britain, despite lower interest rates and better mortgage deals, according to a lettings specialist.
Chief executive of national agency Belvoir Dorian Gonsalves said: “While there has been a gradual shift towards renting over the past 30 years, our current assessment of the housing market indicates that it’s not just about financial factors.
“It seems that more and more people are still being drawn towards the rental option and the benefits of not owning a property.
“Property prices continue to be pushed up by a lack of supply. There are not enough houses being built and, as a result, house prices are now the highest they have been for nearly three years – and rising.”