Almost half of adults rent
Cover4LetProperty’s research supports recent figures from the Office of National Statistics which revealed that for the first time in a century the UK has seen an increase in people living in rented accommodation rather than owning their home.
Richard Burgess, director at Cover4LetProperty, commented: “It is always interesting to survey people and find that the results we have back up figures coming out of the Government.
“With more people staying in rented accommodation is the dream of home ownership dead? It is hard to say but it will be interesting to do this survey again in 10 years time and see if it is simply down to the current economic climate or something more fundamental.”
The research from www.cover4letproperty.co.uk also revealed that nearly a third (28%) of those questioned live in their own or mortgaged home with the remaining 28% living with friends and family.
Cover4LetProperty found that 52% of women live in rented accommodation compared to 37% of men.
Those in the 50-59 age band are the most likely age group to live in rented property whilst 91% of 18-29 year olds live with family or friends.
Interestingly higher income earners are just as likely to live in rented accommodation as those who earn less than them.