UK homeowners 'considering renting'

05 January 2010

Written by Steve Olejnik

Buy to let property holders may be interested to know that more homeowners are now considering selling up and renting to gain financial freedom.

Research from Unbiased.co.uk found that over 1.75 million Britons would consider selling their home - 32 per cent of which said they would not have done so in the past.

One-third of renters said that they have more freedom without owning a home for themselves.

Continental Europeans were previously associated with such habits but now Brits may be following their lead.

Some 12 per cent of those who rent say that they do not wish to own their own home or gain the status symbol associated with this.

Chief executive of the company Karen Barrett said: "For many who own their own home, the worry and stress of this through the property market volatility has caused them to re-think about whether long-term renting is a viable option for them."

The Financial Times reported yesterday (January 4th) that Ross Walker from the Royal Bank of Scotland believed residential property prices were "still expensive relative to income fundamentals".

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