NLA: Brits favour flexibility of renting over buying property

Rental property in Ascot and other parts of the UK is growing in popularity as an alternative to buying, according to the National Landlords Association (NLA).

Increasing numbers of Britons are being attracted to the lettings market as a flexible alternative to home ownership, according to the head of communications at the body, Simon Gordon.

He was responding to a survey by the Association of Residential Letting Agents (Arla), which indicated that there has been a significant rise in demand for rental properties.

Arla suggested that upward trend has been spurred by a wave of "reluctant tenants" who can no longer afford to purchase their own home in the current economic climate.

However, Mr Gordon added: "These figures may show some tenants are reluctant to rent, but that doesn't reveal the true story.

"Nowadays there are property savvy renters who prefer not having to worry about home repairs or concerns about making ends meet with potentially volatile interest rates."

Article Date: 25/01/2010